Investor FAQs

  • The Merger between Berry’s Health, Hygiene, Nonwovens, and Films (HHNF) and Glatfelter (GLT) was announced on February 7th, 2024.
  • The transaction was closed on November 4th, 2024.
  • The merger was announced as a tax-free spinoff and received regulatory approval for the transaction.
  • Berry Global is expected to receive net cash proceeds of approximately $1B at close.
  • Berry Global Shareholders will own ~90% of the combined company’s common shares. Glatfelter shareholders will own the remaining ~10% of the combined company.
  • In connection with the transaction, Glatfelter will complete a reverse stock split of all its issued and outstanding common stock.

Magnera will be a global leader in the growing specialty materials industry, serving the world’s largest brand owners across global end markets with favorable long-term growth dynamics.

For the LTM period ending June 2024, the company generated combined revenue of $3.5 billion and PF Adj. EBITDA of $455 M. The deal will be financed with existing Glatfelter notes, a new bond offering, a new term loan, and a new revolver.

Magnera will have broader global capabilities, serving customers around the world with the widest array of technology platforms to meet their needs. It will possess broad innovation expertise to help advance our customers globally by solving end-user problems. Through collaboration across the value chain, Magnera will demonstrate sustainability leadership to achieve more together for a circular economy. The combined benefits include creating a differentiated industry leader that serves attractive, growing markets and several highly-profitable niches. It brings together leading resin and fiber technologies at scale, providing broader solutions, unique innovation opportunities, and greater customer choice. It deepens relationships with the world’s leading brand owners, enabling critical innovation and partnership resources to support growth. Additionally, it combines a well-invested, global footprint, positioned to serve global and regional customers across all major continents.