Huhtamaki has completed the acquisition of Ajanta Packaging

Mars Food announced it will begin to use recyclable mono-polypropylene plastic (PP) for its microwavable rice pouches in 2021. The project will bring to market the industry’s first food-safe, mono-material microwavable rice pouch. Launching with an initial pilot in the first half of 2021, the business has ambitions to further scale the technology across its portfolio beginning at the back half of the year. The use of high performing mono-PP material will allow Mars Food to retain the shape, shelf life, functionality and high safety standards needed for its brands’ packaging, while ensuring pouches can be mechanically and chemically recycled where infrastructure exists, and designed for future recycling where it doesn’t yet. The breakthrough is a result of a three-year partnership between Mars Food and Amcor.

Third Quarter 2021 Results: Reported Results: For the third quarter 2021, the company recorded earnings from continuing operations of $0.48 per share (diluted) compared to earnings from continuing operations of $2.06 per share (diluted) in the prior year period. The current year earnings from continuing operations before income taxes were $127 million, compared to $376 million in the third quarter of 2020 which included an approximately $280 million net gain on the sale of O-I’s ANZ business unit. Segment Operating Profit1: Third quarter 2021 segment operating profit was $243 million compared to $204 million in the prior year period. While demand for glass containers remains strong, sales volumes (excluding divestitures) declined approximately 1 percent from the prior year. Higher segment operating profit was largely due to higher production levels, as well as strong operating performance and the benefits from the company’s margin expansion initiatives. Cash Flows: Cash provided by continuing operating activities was $306 million in the third quarter 2021, compared to $262 million in the prior year period. Third quarter 2021 free cash flow1 was $213 million compared to $205 million in 2020.

This approval satisfies the shareholder vote condition for the combination, originally announced in November 2024. Together, Amcor and Berry will be among the global leaders in consumer and healthcare packaging solutions with the combined material science and innovation capabilities required to revolutionize product development and better solve customers’ needs and consumers’ sustainability aspirations. These two highly complementary businesses are expected to grow faster together in attractive categories and opportunities to further refine the portfolio. With faster growth and $650 million of identified synergies, this combination is expected to drive significant near- and long-term value for all shareholders. Amcor CEO Peter Konieczny commented, “The resounding support from both companies’ shareholders marks another important milestone in bringing Amcor and Berry together. Our combined company will be positioned to serve customers better, grow faster and operate globally in a way neither company could accomplish alone. Together, we have an exciting and unique opportunity to truly transform the future of packaging.” Berry CEO Kevin Kwilinski added, “We are excited to take another important step toward finalizing this combination between Berry and Amcor and are pleased the shareholders of both companies clearly recognize the significant opportunities we will have as one company to deliver enhanced value for all stakeholders.”