Berry Plastics To Buy AVINTIV From Blackstone About $2.45 Bln In Cash

(RTTNews) - Avintiv Inc. announced that it entered into a definitive agreement for Berry Plastics Group Inc. (BERY) to acquire AVINTIV from private equity funds managed by The Blackstone Group LP for about $2.45 billion in cash on a debt-free, cash-free basis.

Berry Plastics Group is a provider of value-added plastic consumer packaging and engineered materials delivering high-quality customized solutions to customers with annual net sales of $5.0 billion in fiscal 2014. With world headquarters in Evansville, Indiana, the Company's common stock is listed on the New York Stock Exchange under the ticker symbol BERY.

The proposed transaction, which is subject to customary closing conditions, is expected to close by the end of calendar year 2015.