EVANSVILLE, INDIANA, DECEMBER 19, 2007 - Berry Plastics Corporation an Apollo Management, L.P. and Graham Partners, portfolio company, announced today that it has acquired 100% of the outstanding common stock of MAC Closures, Inc., a plastic cap and closure manufacturer with operations located in Waterloo, Quebec and Oakville, Ontario.
Ira Boots, Chairman and CEO of Berry Plastics Corporation, stated "The acquisition of MAC Closures is a continuation of Berry's strategic plan to expand our North American position by combining with industry leading companies to provide a full product offering of plastic packaging to our customers. Our customers, employees and investors will benefit from the combination of these two outstanding companies. We are proud to add to our manufacturing and customer base in Canada with the acquisition of MAC Closures. The skilled and dedicated employees of MAC Closures have built an extremely successful company with an outstanding reputation for quality. We are very excited about the additional opportunities MAC Closures will bring to Berry Plastics and our customers as we continue to strengthen our product offerings to the many markets we serve."
MAC Closures is a fully integrated manufacturer of injection molded plastic caps and closures primarily serving the pharmaceutical, nutraceutical, personal care, amenity, and household and industrial chemical industries. MAC Closures manufactures stock and custom products for U.S. and Canadian based private and national brand owners, distributors and other packaging suppliers.
Gilles Decelles, President and CEO of MAC Closures commented "I am pleased to join an industry leader with values and a vision that we share and that has driven MAC to its current position in the market. We look forward to build on to that excellence."
Marc Beauchamp, President of Novacap Investments Inc. stated "The sale of MAC Closures to Berry Plastic Corporation fits with our strategy to develop world class companies. Since Novacap's investment, MAC has become a leader in several sectors of the plastic cap and closure market. Through its distribution reach, Berry will help leverage MAC's expertise in these market segments."
This press release is for informational purposes only and is not intended to serve as a solicitation to buy securities or an offer to sell securities.