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Berry Plastics to buy Avintiv

from Nonwovens Industry

Berry Plastics Group will acquire Avintic Inc., formerly PGI Nonwovens, from private equity funds managed by The Blackstone Group LP for approximately $2.45 billion in cash on a debt-free, cash-free basis. Avintiv is the world's largest producer of nonwovens with sales last year of more than $2 billion. It has 23 locations in 14 countries, an employee base of more than 4,500 people and the broadest range of process technologies in the industry. more

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