Berry Plastics to be Acquired by Private Equity Firms Apollo Management, L.P. and Graham Partners in Partnership with Senior Management.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- BPC BPC British Potato Council BPC Brewton-Parker College (Mt Vernon, GA) BPC Bible Presbyterian Church BPC Bangladesh Petroleum Corporation (Chittagong, Bangladesh) BPC British Pharmaceutical Codex Holding Corporation (parent of Berry Plastics Berry Plastics a leading maker of injection-molded and thermoformed plastic products for hundreds of products in the following major product areas: open-top containers, closures, drink cups, bottles, tubes, prescription vials, overcaps, and consumer products. Corporation) and the private equity firms Apollo Management Apollo Management L.P. is a private equity L.P. firm, founded in 1990 by Leon Black (Apollo Advisors). Based in New York, it also has offices in Los Angeles and London. It has invested over $16 billion in companies inside and outside the of the United States. , L.P. and Graham Partners (a private equity firm sponsored by the Graham family and together with Apollo, the "Sponsors") announced today that they have signed a definitive agreement for the Sponsors to acquire BPC Holding Corporation from Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. Capital Partners and JPMorgan Partners for an enterprise value of $2.25 billion in aggregate consideration. The transaction is subject to regulatory approval and other customary closing conditions. The parties expect to complete the transaction by the end of the third quarter. Following the transaction, Apollo will own a majority of Berry's common stock. "We are very excited to be purchasing Berry Plastics which we believe is a true franchise business and one of the best positioned, highest margin specialty packaging businesses in the industry," said Joshua Harris, a founding partner of Apollo Management. "We are particularly pleased to be partnering with Ira Boots and the management team of Berry Berry, former province, France Berry (bĕrē`), former province, central France. Bourges, the capital, and Châteauroux are the chief towns. , which is among the strongest we've encountered in the packaging or any other industry. We look forward to continuing to successfully implement Berry's proven growth strategy in the years to come." "The Graham Group is very pleased to partner with Apollo and the outstanding management team Ira Boots has assembled at Berry in the acquisition of the Company," said Steve Graham, Senior Managing Principal at Graham Partners. "We believe Berry offers an ideal platform to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the abundant growth opportunities in the rigid plastic packaging industry." Mr. Ira Boots will remain President and Chief Executive Officer and the existing senior management team will continue to lead Berry Plastics following the transaction. "This is a tremendous opportunity for our business and employees to have an opportunity to partner with Apollo and Graham Partners in the next phase of Berry's evolution," said Mr. Boots. "We have successfully executed our business strategy over the last few years thanks to tireless work by our employees and loyal support from our customers. We look forward to working with our new owners to continue to build Berry into one of the strongest specialty plastic packaging companies in the world." Joe Gleberman, Managing Director at Goldman Sachs Capital Partners, said, "We have enjoyed our partnership with the management of Berry and are confident they will continue to do a great job serving their customers and building the company in partnership with Apollo and Graham Partners." Berry Plastics is a leading manufacturer and marketer of rigid plastic packaging products. Berry Plastics provides a wide range of rigid open top and rigid closed top packaging as well as comprehensive packaging solutions to over 12,000 customers, ranging from large multinational corporations
The phrase pro forma annual sales of $1.3 billion. Based in Evansville, Indiana
Evansville (IPA: [ˈɛ.vənzˌvɪl]) is the third-largest city in the state of Indiana. , the company has 25 manufacturing facilities worldwide and more than 6,800 employees. Goldman, Sachs & Co. and JPMorgan served as financial advisors to Berry Plastics on this transaction. Certain statements and information included in this release may constitute "forward looking statements" within the meaning of the Federal Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Berry Plastics to be materially different from any future results, performance, or achievements expressed or implied in such forward looking statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations is contained in the companies' SEC filings. The companies do not undertake any obligation to update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. About Apollo Management, L.P. Apollo Management, L.P., founded in 1990, is among the most active and successful private investments firms in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. in terms of both number of investment transactions completed and aggregate dollars invested. Since its inception, Apollo has managed the investment of an aggregate of approximately $13 billion in equity capital in a wide variety of industries, both domestically and internationally. Apollo is currently investing its sixth corporate fund, Apollo Investment Fund VI, L.P., which has total committed capital (including co-investment entities) of approximately $12 billion. About Graham Partners Graham Partners is a leading middle market industrial private equity firm based in suburban Philadelphia with over $850 million under management. Graham Partners is sponsored by the privately held Graham Group of York, Pennsylvania York, known as the White Rose City (after the Wars of the Roses), is a city located in South Central Pennsylvania. The population was 40,862 at the 2000 census. York is the county seat of York County,GR6 , an industrial and investment concern with global interests in plastics, packaging, machinery, building products and outsource manufacturing. Graham Partners seeks to acquire industrial companies that participate in growing manufacturing niches, often involving plastics or other synthetic materials, where Graham can leverage its unique combination of operating resources and financial expertise. 
Taking full advantage of the Laissez-faire environment created by the Bush Administration the weakness of the U.S. Dollar - Apollo has successfully and permanantly damaged the USA's ability to maintain a stable and secure manufacturing base.
Apollo buys assets, closes plants and put Americans out of jobs. That is their primary business. Preying on the weakest of business, they swarm like Vultures to the kill to scarf up the valuable remain and excrete the detritus, which are usually the most well paid and most knowledgeable of the employee base. Apollo only know ledgers and balances. "Better dead, than in the Red" is their primary motto. They are a number one threat to middle American jobs in this country, the mainstay of consumerism in American Economics. If we allow multi-national Economic Fascists, like Apollo, to persist and operate unregulated in our economy we are doomed to become a third world country of Ultra Supreme "Haves" and Untouchable "Have Not's". Lou Dobbs should target this company in his "War on the Middle Class". Too many of us have had ruthless terminations due to their excessive and heart-less greed and lack of respect for common American working people. Just taking the name of the Sun-God, Apollo, alone only underscores their Shameless Corporate Supremacy and disregard for balance and fair economics. We must stop this Corporate Greed and their exploitative use of collective Equity Management and Funding to destabilize the threads of American Manufacturing. Mr. Dobb's please come to the workers aid and investgatetthis obtrusive force is the "War on the Middle Class" |
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