Total U.S. Packaging Papers & Specialty Packaging Shipments Decreased Two Percent in April 2022

Berry Global Group, Inc., announced it has entered into a definitive agreement to sell its Specialty Tapes business to the private equity firm Nautic Partners, LLC 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.”

Berry Global Group, Inc. and Glatfelter Corporation announced that the proposed merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films business with Glatfelter progressed further with the creation of the Magnera brand, a global leader in the specialty materials industry. The launch of this new identity marks the next chapter in the transaction journey, emphasizing a commitment to innovation and leadership in the specialty materials industry. Magnera will leverage a broad platform of 46 global manufacturing facilities, offering its customers innovative solutions more quickly from closer locations and minimizing environmental impact. Curt Begle, President of Berry’s Health Hygiene & Specialties Division, who will lead Magnera as CEO, said, “Magnera’s purpose is to better the world with new possibilities made real. By continuously co-creating and innovating with our partners, we will develop original material solutions that make a brighter future possible. With a breadth of technologies and a passion for what we create, Magnera’s solutions will solve end-users’ problems, every day.” With a focus on innovation, operational excellence, and strategic market penetration, Magnera will have the broadest global product offering in high-growth markets for both polymer and fiber-based product applications.

Sonoco announced it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning November 16, 2020. Sonoco cited significantly longer backlogs at its mills along with continuing inflation of input costs, especially freight and papermaking chemicals as the drivers for this pricing action.