*Image Credit: Inside Indiana Business
Berry Global Group, has announced their plans to acquire the Clopay Plastics Products Company, Inc. (“Clopay”). Clopay is a subsidiary of Griffon Corporation worth $475 million in cash on a debt-free, cash-free basis. Clopay is an innovator in the development of elastics, as well as a global supplier of printed breathable films.
“The proposed acquisition of Clopay is directly aligned with our fundamental strategic initiatives,” said Tom Salmon, CEO of Berry. “We are extremely excited with what Clopay’s global capabilities and unique technology platform will add to our organization. The combination of Clopay with Berry’s Health, Hygiene, and Specialties division broadens our position within the faster-growing health and hygiene markets. Clopay will bring Berry new capabilities in the production of technical films, where they are a known innovator with patent protected breathable hygiene films.”
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Berry Global Group, Inc. To Acquire the Clopay Plastic Products Company