Amcor, Berry Global complete merger, reshaping the packaging industry

USA – Amcor has finalized its all-stock merger with Berry Global, marking a transformative move in the global packaging industry.

This strategic combination brings together two industry giants, unlocking new synergies and growth potential across consumer and healthcare packaging sectors.

Berry Global, which employs over 34,000 people across more than 200 locations, is recognized for its focus on sustainable packaging and innovation within a circular economy framework.

Its integration into Amcor significantly strengthens the latter’s material science capabilities—key to developing next-generation packaging solutions that align with shifting consumer demands and global sustainability goals.

The merger positions Amcor as a more diversified and resilient player, with expanded reach and a comprehensive portfolio.

It also introduces powerful new levers for value creation, including US$650 million in identified synergies, which are expected to deliver meaningful shareholder and customer benefits.

In the short term, Amcor projects US$260 million in pretax synergies in fiscal year 2026 (FY26), contributing to a projected 12% increase in adjusted earnings per share.

By the end of FY28, these benefits are expected to scale to US$650 million, alongside an additional US$280 million in one-time cash gains from working capital efficiencies.

With these synergies fully realized, Amcor forecasts annual cash flows exceeding US$3 billion by FY28.

This robust financial foundation will support continued reinvestment, strategic M&A activity, and returns to shareholders through dividends and share buybacks.

“This combination delivers on our strategy to become a stronger company with a broader, more complete offering for customers and enhanced positions in attractive categories,” said Amcor CEO Peter Konieczny.

“Our focus now turns to delivering on synergies and growth opportunities, including leveraging our extensive global footprint and enhanced innovation and R\&D capabilities.”

The merged company will operate as Amcor plc, with Peter Konieczny as CEO and Graeme Liebelt as chairman.

The deal follows Amcor’s US$6.8 billion acquisition of Bemis in 2019, reinforcing a long-term strategy focused on scale, integration, and innovation.

Meanwhile, Berry Global posted strong financials in Q2 2025, with net income rising 66% year-over-year to US$193 million and operating income more than doubling to US$391 million.

These gains highlight the strength of Berry’s core business as it transitions into its next phase under the Amcor umbrella.

This merger redefines the competitive landscape, combining scale, sustainability leadership, and advanced material innovation—ushering in a new era for the global packaging industry.

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