ZURICH and EVANSVILLE, Ind., March 11,
2025 /PRNewswire/ -- Amcor plc ("Amcor") (NYSE: AMCR,
ASX: AMC) and Berry Global Group, Inc. ("Berry") (NYSE: BERY) today
announced the expiration of the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR Act") in
connection with the previously announced combination of the two
companies. Expiration of the waiting period satisfies another
closing condition necessary for completing the combination.
The companies also confirm that a number of additional approvals
have been received from regulatory authorities in recent weeks,
including antitrust clearances from China and Brazil.
Progress toward obtaining remaining regulatory approvals and
other customary closing conditions is well advanced. The companies
continue to expect transaction close in the middle of calendar year
2025.
About Amcor
Amcor plc is a global leader in developing and producing
responsible packaging solutions across a variety of materials for
food, beverage, pharmaceutical, medical, home and personal-care,
and other products. Amcor works with leading companies around the
world to protect products, differentiate brands, and improve supply
chains. The Company offers a range of innovative, differentiating
flexible and rigid packaging, specialty cartons, closures and
services. The company is focused on making packaging that is
increasingly recyclable, reusable, lighter weight and made using an
increasing amount of recycled content. In fiscal year 2024, 41,000
Amcor people generated $13.6 billion
in annual sales from operations that span 212 locations in 40
countries. NYSE: AMCR; ASX: AMC
About Berry
Berry is a global leader in innovative packaging solutions that
we believe make life better for people and the planet. We do this
every day by leveraging our unmatched global capabilities,
sustainability leadership, and deep innovation expertise to serve
customers of all sizes around the world. Harnessing the strength in
our diversity and industry-leading talent of over 34,000 global
employees across more than 200 locations, we partner with customers
to develop, design, and manufacture innovative products with an eye
toward the circular economy. The challenges we solve and the
innovations we pioneer benefit our customers at every stage of
their journey.
Cautionary Statement Regarding Forward-Looking
Statements
This document contains certain statements that are
"forward-looking statements" within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements are generally identified with
words like "believe," "expect," "target," "project," "may,"
"could," "would," "approximately," "possible," "will," "should,"
"intend," "plan," "anticipate," "commit," "estimate," "potential,"
"ambitions," "outlook," or "continue," the negative of these words,
other terms of similar meaning, or the use of future dates. Such
statements, including projections as to the anticipated benefits of
the proposed Transaction (as defined herein), the impact of the
proposed Transaction on Amcor's and Berry Global Group Inc.'s
("Berry") business and future financial and operating results and
prospects, and the amount and timing of synergies from the proposed
Transaction, are based on the current estimates, assumptions,
projections and expectations of the management of Amcor and Berry
and are qualified by the inherent risks and uncertainties
surrounding future expectations generally. Actual results could
differ materially from those currently anticipated due to a number
of risks and uncertainties many of which are beyond Amcor's and
Berry's control. Neither Amcor nor Berry nor any of their
respective directors, executive officers, or advisors, provide any
representation, assurance, or guarantee that the occurrence of the
events expressed or implied in any forward-looking statements will
actually occur or if any of them do occur, what impact they will
have on the business, results of operations or financial condition
of Amcor and Berry. Should any risks and uncertainties develop into
actual events, these developments could have a material adverse
effect on Amcor's and Berry's respective businesses, the proposed
Transaction and the ability to successfully complete the proposed
Transaction and realize its expected benefits. Risks and
uncertainties that could cause actual results to differ from
expectations include, but are not limited to: occurrence of any
event, change or other circumstance that could give rise to the
termination of the Agreement and Plan of Merger ("Merger
Agreement") in connection with the proposed merger (the
"Transaction") of Amcor and Berry; risk that the conditions to the
completion of the proposed Transaction with Berry (including
regulatory approvals) are not satisfied in a timely manner or at
all; risks arising from the integration of the Amcor and Berry
businesses; risk that the anticipated benefits of the proposed
Transaction may not be realized when expected or at all; risk of
unexpected costs or expenses resulting from the proposed
Transaction; risk of litigation related to the proposed
Transaction; risks related to the disruption of management's time
from ongoing business operations as a result of the proposed
Transaction; risk that the proposed Transaction may have an adverse
effect on Amcor's and Berry's respective ability to retain key
personnel and customers; general economic, market and social
developments and conditions; evolving legal, regulatory and tax
regimes under which Amcor or Berry operates; potential business
uncertainty, including changes to existing business relationships,
during the pendency of the proposed Transaction that could affect
Amcor's and Berry's respective financial performance; changes in
consumer demand patterns and customer requirements in numerous
industries; the loss of key customers, a reduction in their
production requirements, or consolidation among key customers;
significant competition in the industries and regions in which
Amcor or Berry operates; an inability to expand Amcor's and Berry's
respective current businesses effectively through either organic
growth, including product innovation, investments, or acquisitions;
challenging global economic conditions; impacts of operating
internationally; price fluctuations or shortages in the
availability of raw materials, energy, and other inputs which could
adversely affect Amcor's and Berry's respective businesses;
production, supply, and other commercial risks, including
counterparty credit risks, which may be exacerbated in times of
economic volatility; pandemics, epidemics, or other disease
outbreaks; an inability to attract and retain Amcor's and Berry's
respective global executive teams and Amcor's and Berry's
respective skilled workforce and manage key transitions; labor
disputes and an inability to renew collective bargaining agreements
at acceptable terms; physical impacts of climate change;
cybersecurity risks, which could disrupt Amcor's and Berry's
respective operations or risk of loss of Amcor's and Berry's
respective sensitive business information; failures or disruptions
in Amcor's and Berry's respective information technology systems
which could disrupt Amcor's and Berry's respective operations,
compromise customer, employee, supplier, and other data; a
significant increase in Amcor's and Berry's respective indebtedness
or a downgrade in Amcor's and Berry's respective credit ratings
could reduce Amcor's and Berry's respective operating flexibility
and increase Amcor's and Berry's respective borrowing costs and
negatively affect Amcor's and Berry's respective financial
condition and results of operations; rising interest rates that
increase Amcor's and Berry's respective borrowing costs on Amcor's
and Berry's respective variable rate indebtedness and could have
other negative impacts; foreign exchange rate risk; a significant
write-down of goodwill and/or other intangible assets; a failure to
maintain an effective system of internal control over financial
reporting; an inability of Amcor's and Berry's respective insurance
policies, including Amcor's and Berry's respective use of a captive
insurance company, to provide adequate protection against all of
the risks Amcor and Berry face; an inability to defend Amcor's or
Berry's respective intellectual property rights or intellectual
property infringement claims against Amcor or Berry; litigation,
including product liability claims or litigation related to
Environmental, Social, and Governance ("ESG"), matters or
regulatory developments; increasing scrutiny and changing
expectations from investors, customers, suppliers, and governments
with respect to Amcor's and Berry's respective ESG practices and
commitments resulting in additional costs or exposure to additional
risks; changing ESG government regulations including
climate-related rules; changing environmental, health, and safety
laws; changes in tax laws or changes in Amcor's and Berry's
respective geographic mix of earnings; and other risks and
uncertainties are supplemented by those identified from time to
time in Amcor's and Berry's filings with the Securities and
Exchange Commission (the "SEC"), including without limitation,
those described under Part I, "Item 1A - Risk Factors" in Amcor's
Annual Report on Form 10-K for the fiscal year ended June 30, 2024 and Berry's Annual Report on Form
10-K for the fiscal year ended September 28,
2024, each as updated by Amcor's or Berry's quarterly
reports on Form 10-Q. You can obtain copies of Amcor's and Berry's
filings with the SEC for free at the SEC's website (www.sec.gov).
Forward-looking statements included herein are made only as of the
date hereof and Amcor and Berry do not undertake any obligation to
update any forward-looking statements, or any other information in
this communication, as a result of new information, future
developments or otherwise, or to correct any inaccuracies or
omissions in them which become apparent, except as expressly
required by law. All forward-looking statements in this
communication are qualified in their entirety by this cautionary
statement.
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SOURCE Amcor
