Berry Plastics buying AEP for $765 million

Berry Plastics Group Inc.’s $ 765 million deal to acquire flexible packaging films maker AEP Industries Inc. involves some inspired math, according to one man behind the deal.

“This is truly the classic example of an M&A transaction where one plus one not only equals three, but meaningfully more than that over time as we full integrate these two great organizations,” Berry Plastics CEO Jon Rich said just a few hours after the deal was announced Aug. 25.

Berry not only sees Montvale, N.J.-based AEP as a complementary acquisition for its Engineered Materials division, but actually a way to help lower its debt-to-earnings ratio more quickly than previously planned.

Read the source article at Global Rubber Markets News