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JPMorgan Partners' Portfolio Company, Berry Plastics, Acquires Landis PlasticsNov. 20, 2003 -- Berry Plastics Corporation ("Berry") today announced that it has completed the acquisition of Landis Plastics, Inc. ("Landis") for the total consideration of $228 million, including repayment of existing indebtedness. The purchase price was funded with a combination of debt, an equity investment from Berry's existing investors, and cash from Berry's balance sheet. Greg Landis along with Brent Beeler will serve as Co-Presidents of Berry's Container Division, utilizing the combined Berry and Landis platform to provide expanded product offerings. The combination of Berry's twelve U.S. and international plants with the five Landis domestic facilities will provide enhanced geographic coverage, benefiting the customers of both Berry and Landis. In conjunction with its acquisition of Landis, Berry has entered into lease agreements for four Landis plants which were acquired by WP Carey from affiliates of Landis. Berry Plastics Corporation, a portfolio company of JPMorgan Partners and Goldman Sachs Capital Partners, is a leading manufacturer and marketer of injection-molded and thermoformed plastic open-top containers, aerosol overcaps, closures, drink cups, and housewares. The company is headquartered in Evansville, Indiana, and, together with its subsidiaries, has plants in Alsip, Illinois; Baltimore, Maryland; Charlotte, North Carolina; Chicago Ridge, Illinois; Henderson, Nevada; Iowa Falls, Iowa; Lawrence, Kansas; Milan, Italy; Monroeville, Ohio; Monticello, Indiana; Norwich, England; Phoenix, Arizona; Richmond, Indiana; Streetsboro, Ohio; Suffolk, Virginia; Syracuse, New York; Woodstock, Illinois; and a sales office in Mexico City, Mexico. *This information is not intended as an offer or solicitation for the purpose or sale of any financial instrument. JPMorgan Partners, LLC is a Registered Investment Adviser with Securities and Exchange Commission ("SEC"). Back to Press Releases |
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The historical information presented may reflect the activities of the professionals of CCMP Capital Advisors, LLC (together with its affiliates, “CCMP Capital”) while they were members of J.P. Morgan Partners, LLC ("JPMP"), a private equity division of JPMorgan Chase & Co. prior to CCMP Capital's commencing operations. Nothing contained herein constitutes an offer to sell or a solicitation of an offer to purchase any investments or securities of any investment vehicles. © 2008 CCMP CAPITAL ADVISORS, LLC. All rights reserved. |
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