Berry Plastics Corporation Completes Acquisition of Pliant Corporation
Berry Plastics Corporation announced today that it has completed the previously announced acquisition of 100% of the common stock of Pliant Corporation, and Pliant Corporation has emerged from bankruptcy effective December 3, 2009. Pliant Corporation is a leading producer of value-added film and flexible packaging products for personal care, medical, food, industrial and agricultural markets. Pliant operates 16 manufacturing facilities around the world, and employs approximately 2,800 people with annual net sales of $0.9 billion for the twelve months ended September 30, 2009. Barclays Capital acted as the exclusive financial advisor to Apollo Management, Graham Partners and Berry Plastics in conjunction with the Pliant restructuring process.
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