The takeover of one of the UK’s largest plastics manufacturing and recycling businesses, RPC Group, by a US plastics packaging giant has been completed.
Berry Global has announced the completion of the acquisition of Rushden-based RPC in a deal worth up to £5 billion this week (1 July).
Rushden based RPC operates a number of plastics manufacturing sites across the UK and in 32 other countries
The combination of Berry and RPC creates a “global leader in plastic and recycled packaging products”, the two businesses have claimed.
In March, the two companies agreed to a final offer of 793 pence per share for RPC. RPC Group has over 153 sites across the globe, manufacturing rigid and film plastic products.
This includes RPC bpi recycled products sites including a wash and granulation plant at Dumfries, dry and wash recycling plants at Heanor in Derbyshire and Rhymney, and a dry recycling plant at Stroud, Gloucestershire. These joined the RPC Group following its £261 million acquisition of BPI in 2016 (see letsrecycle.com story).
The company has a recycling capacity of more than 150,000 tonnes per year and is one of the largest recyclers of waste polythene film in Europe.
Plaswood
Products manufactured by the company include refuse and recycling sacks, under the Green Sack brand, ‘Plaswood’ outdoor furniture and landscaping products and plastic construction membranes.
Berry has described the companies as having “complementary plastic packaging product offerings and strong cultural compatibility”.
The Fortune 500 listed company, which is based in Evansville, Indiana supplies a range of non-woven, flexible, and rigid plastic products which includes food and drinks packaging, construction materials and healthcare products. It recently launched its ‘Verdant’ consumer product packaging line, which contains between 25-100% recycled content, including PET, HDPE and PP.
‘Global leader’
Commenting on the acquisition, Tom Salmon, chairman and chief executive of Berry, said: “We are very excited to move forward together as a global plastic and recycled packaging industry leader, serving thousands of customers with our high-quality, innovative, and protective solutions along with the industry’s most diversified and expansive manufacturing footprint.
“The acquisition of RPC will give us the opportunity to leverage our combined know-how in innovative material science, product development, and manufacturing technologies to create significant value for our shareholders. Through this shared approach, we anticipate approximately $150 million in annual synergies.”
Related Links
RPC Group
Berry Global
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Source: letsrecycle.com Plastic
