Today, Berry Plastics Group, Inc. (NYSE: BERY) announced that it is changing its name to Berry Global Group, Inc. Common shares of the Company stock will continue to be traded on the New York Stock Exchange under the symbol BERY. In addition, Berry Plastics Corporation, a wholly owned subsidiary of Berry Plastics Group, Inc., will change its name to Berry Global, Inc. Both name changes will be effective April 13, 2017.
"Our business has transformed significantly since our name became Berry Plastics in 1983," explained Tom Salmon, Berry's Chief Executive Officer. "Berry has evolved from one manufacturing facility in Evansville, Indiana, to over 130 facilities throughout the world. And our business has grown from less than $25 million in annual revenue in 1983 to now over $7 billion, reflecting the AEP acquisition.
"By changing our name to Berry Global we are portraying a more balanced view of who we are to our customers, our investors, and ourselves."
Berry's Mission: Always Advancing to Protect What's Important
"Two critical components of Berry's culture are Continuous Improvement and Innovation," explained Salmon. "As such, we are 'Always Advancing' to improve the way we work and to improve the products and services we provide.
"If you look across all of our products, they have one element in common - they protect. They protect what people eat, drink, and use every day . they protect healthcare professionals and their patients . and they protect buildings, transportation, pipelines, and other infrastructure."
Berry's mission also encompasses advancing its facilities' safety practices to protect its employees; advancing sustainability efforts to protect the environment; and, advancing the Company's business strategies to protect the investments of its shareholders.
The Logo: Reinforces the Importance of the Company's Values
With the name change and new Mission, the Company has also adopted a new logo and Values. The logo was developed with the Company's Values in mind.
"Our Values serve as the cornerstone of Berry. The icon in the logo illustrates those four Values - Partnership, Excellence, Growth, and Safety," said Salmon.
- Partnerships: We recognize the importance of strong, sustainable partnerships throughout all aspects of our business - we view our employees, customers, suppliers, and communities as our partners.
- Excellence: We pursue excellence in all that we do by optimizing our processes, enhancing our sustainability initiatives, and by providing the highest quality products and services to our customers. We believe in continuous training and development for our employees so that we can deliver excellence to our customers.
- Growth: Strategic growth is imperative for our business. Growth comes in many forms - financial growth, customer growth, employee growth and development, product growth and innovation, and the global growth of our Company.
- Safety: Our number one value. We relentlessly pursue safety in all we do. We maintain high standards to ensure our facilities are safe and environmentally conscious.
Salmon added, "These are exciting times and today is yet another milestone in Berry's history. Our new branding not only references our legacy businesses and the strong foundation that they created, but also allows us to share the aspirations we have for the bright future that is before us."