CLOVERDALE, CA, July 31, 2015-

In what is probably the biggest financial transaction in the history of the nonwovens industry, Berry Plastics will buy AVINTIV Inc. from Blackstone Group LP for $2.45 billion, the two companies announced today. In press releases posted by the two companies on their websites, they noted that this "transformational acquisition will enhance Berry Plastics' ability to capitalize on the rapidly growing global markets for hygiene and healthcare with products complementary to the Berry Plastics portfolio."

The companies expect the deal to close by year-end, "subject to customary closing conditions".

Nonwovens Markets subscribers - click here to read the full article.

Not a subscriber?

Try Nonwovens Markets free!