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Berry and Glatfelter Announce Additional Regulatory Milestone in Proposed Transaction for Spin-Off and Merger

EVANSVILLE, Ind. (News release) --Berry Global Group, Inc. and Glatfelter Corporation announced today the achievement of an additional regulatory milestone in the proposed transaction involving the combination of a majority of Berry's Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business ("HHNF") with Glatfelter. In addition to the previously announced expiration of the required waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act, the parties have now received all other approvals and clearances under competition and foreign direct investment laws which were conditions to the consummation of the transaction.

As previously announced on February 7, 2024, Berry and Glatfelter entered into a definitive agreement under which Berry will spin-off and merge its HHNF business with Glatfelter in a Reverse Morris Trust transaction. The transaction will create a leading, publicly-traded company in the specialty materials industry.

The transaction is expected to close in the second half of calendar 2024 and is subject to approval by Glatfelter shareholders and completion of the remaining customary closing conditions.

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