Amcor

“as we work with TSMC, Amcor, and frankly a myriad of other recent economic development opportunities”

Amcor is named alongside TSMC as one of the large economic-development customers Pinnacle West is coordinating with to size its next resource procurement RFP.

“Our acquisition of Berry created a global leader in consumer packaging and dispensing solutions.”

Amcor frames its acquisition of Berry Global as transformational, now driving accelerating synergies ($55M in Q2) and a combined consumer-packaging platform. Positive read-through for the integrated Berry business.

“We completed the acquisition of Berry Global and are now 100 days into combining 2 complementary businesses, and transforming Amcor's ability to create value for our customers and shareholders.”

Amcor completed its Berry Global acquisition and is 100 days into integration, targeting $650M of synergies, a major consolidation of the global consumer-packaging industry.

“adjusted EBIT of $55 million for the quarter no longer includes any contribution from the Bericap Joint Venture, which was divested in December 2024.”

Amcor divested its Bericap joint venture in December 2024, removing roughly $5 million of quarterly EBIT contribution from the Rigid Packaging segment's year-over-year comparison.

“Today is a defining day for Amcor, as we successfully closed our transformational combination with Berry Global earlier than we anticipated and in record time.”

Amcor closed its transformational combination with Berry Global ahead of schedule, adding 30,000 employees and setting up $650 million of identified synergies over three years, the central story of the quarter.

“we completed the sale of our 50% interest in Bericap North America closures business, which we announced back in October.”

Amcor exited its 50% joint-venture stake in Bericap North America's closures business for $122 million in proceeds, used to reduce debt.

“On the Berry side, think about like multi-component delivery devices, for example, inhalers that are being brought to market and that is something that on the Amcor side we have -- we do not have in our portfolio.”

Berry Global brings multi-component healthcare delivery devices, such as inhalers, that Amcor does not currently offer, strengthening the combined company's roughly $3 billion healthcare packaging exposure.

“the Berry business has a containers and closures business, which is about a $7 billion business. Hence, the combination will get us to a really scaled player and multi-regions, and that's different from what we have today.”

Berry Global's roughly $7 billion containers and closures business is largely complementary to (not overlapping with) Amcor's $3 billion Rigid Packaging business, creating a globally scaled rigid packaging player once combined.

“we do actually gain confidence in the synergy bucket that we put into the market of the $650 million, most of which is cost related and breaks down on the cost side, if I put the financial synergy opportunities aside, between procurement SG&A and then operations.”

Amcor says it is gaining confidence in the $650 million cost and financial synergy target for the Berry Global merger, with procurement the single largest synergy bucket at $325 million.

“This journey is already underway with Berry's recent divestitures of its HHNF and Tapes businesses, which have significantly enhanced their product mix while reducing cyclicality.”

Ahead of the merger close, Berry Global has already divested its HHNF and Tapes businesses, improving its own product mix and reducing cyclicality, which Amcor views favorably for the combined entity.

“The merger with Berry is directly aligned with this strategy and moves us further towards our vision.”

Amcor frames its pending all-stock merger with Berry Global as central to its strategy of becoming the global packaging partner of choice, with shareholder meetings scheduled and the deal on track to close around mid-calendar-2025.

“we reached an agreement to sell our 50% interest in the Bericap North America closures business to our joint venture partner for $122 million”

Amcor is unwinding its 27-year closures joint venture with Bericap, selling its 50% North America interest to the partner for $122 million to redirect capital elsewhere, after differing views on near-term capital requirements.