---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-011685"
form_type: "8-K"
ticker: "MAGN"
cik: "0000041719"
company_name: "Magnera Corp"
filed_at: "2024-02-07T23:59:59+00:00"
generated_at: "2026-06-06T07:25:06.774301+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Glatfelter merges with Berry's HHNF in $3.6B Reverse Morris Trust; GLT holders get 10%

## Summary
- Transaction valued at $3.6B enterprise value; pro forma revenue ~$3.6B, Adj. EBITDA ~$455M.
- Glatfelter shareholders own 10% of combined company; Berry shareholders via Spinco own 90%.
- Berry receives ~$1B cash distribution at closing; cost synergies target >=$50M by year three.
- Pro forma net leverage 4x; Spinco enters $1.585B term loan and $250M ABL facility.
- Curt Begle, President of Berry HHNF, to become CEO of combined company.

## SEC filing metadata
- accession: 0001104659-24-011685
- form_type: 8-K
- ticker: MAGN
- cik: 0000041719
- company_name: Magnera Corp
- filed_at: 2024-02-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/41719/000110465924011685/0001104659-24-011685-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/41719/000110465924011685/tm245431d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-011685
- JSON: https://secwatch.observer/filing/0001104659-24-011685.json
- Plain text: https://secwatch.observer/filing/0001104659-24-011685.txt

## Key facts
- Material Agreements
  Magnera Corp entered into RMT Transaction Agreement with Berry Global Group, Inc. and Treasure Holdco, Inc. (effective 2024-02-06).
  - Action: entry
  - Agreement: merger
  - Counterparty: Berry Global Group, Inc. and Treasure Holdco, Inc.
  - Effective: 2024-02-06
  source text: a Reverse Morris Trust (“ RMT ”) Transaction Agreement, dated as of February 6, 2024 (the “ RMT Transaction Agreement ”), by and among the Company, Merger Subs, Berry and Spinco
  evidence_url: https://www.sec.gov/Archives/edgar/data/41719/000110465924011685/0001104659-24-011685-index.htm
- Material Agreements
  Magnera Corp entered into Separation and Distribution Agreement with Berry Global Group, Inc. and Treasure Holdco, Inc. (effective 2024-02-06).
  - Action: entry
  - Agreement: supply
  - Counterparty: Berry Global Group, Inc. and Treasure Holdco, Inc.
  - Effective: 2024-02-06
  source text: a Separation and Distribution Agreement, dated as of February 6, 2024 (the “ Separation Agreement ”), by and among the Company, Berry and Spinco
  evidence_url: https://www.sec.gov/Archives/edgar/data/41719/000110465924011685/0001104659-24-011685-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.