Berry Global Announces Agreement to Sell Specialty Tapes Business to Nautic Partners

Berry Global Group, Inc., (“Berry”) (NYSE:BERY) announced today it has entered into a definitive agreement to sell its Specialty Tapes business (“Tapes”) to the private equity firm Nautic Partners, LLC (“Nautic”) for a headline purchase price of approximately $540 million, which is subject to a number of closing adjustments.

The Tapes business is a franchise highly valued by its industrial customers. As a result, this separation is aligned with Berry’s broader strategy to transition the portfolio towards more consistent, higher growth consumer-oriented end markets and platforms.

Berry CEO, Kevin Kwilinski, said, “Over the past year, Berry has undergone a significant transformation, completing the spin-off of our HHNF business, enhancing our product mix and optimizing our portfolio. The sale of Tapes further supports these efforts and the continued focus on our high-growth consumer portfolio.”
more at: https://ir.berryglobal.com/news-releases/news-release-details/berry-global-announces-agreement-sell-specialty-tapes-business

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