Berry Plastics Group will acquire the remaining Containers & Closures division of Rexam’s Healthcare business, Rexam has announced.
Rigid packaging specialist Rexam has received a binding offer from Indiana, USA-based Berry Plastics in a deal valued at $135m in cash, subject to certain adjustments at closing.
The transaction, which requires consultation with the French works council and is conditional on the necessary regulatory approvals, is expected to complete around the middle of 2014.
The announcement follows that of 3 February 2014 regarding the proposed sale of the other two divisions within Rexam’s Healthcare business, a transaction expected to complete in the second quarter of this year.
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