Berry Global And Glatfelter Plan For Tax-Free Spin-Off And Merger Of Berry's Health, Hygiene And Specialties Global Nonwovens And Films Business With Glatfelter

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Berry Plastics Group, Inc.

BERY

P. H. Glatfelter Company

GLT

21.05

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Transaction values the combined company at $3.6 billion on an enterprise value basis, with pro forma revenue of ~$3.6 billion and Adj. EBITDA (1) of ~$455 million. Berry and Glatfelter shareholders to own 90% and 10% of the combined company, respectively. Berry to receive an approximate net $1 billion cash distribution at closing

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