BERRY GLOBAL GROUP, INC.: M&A transaction — Berry completes spin-off and merger of HHNF business with Glatfelter to form Magnera

BERRY GLOBAL GROUP, INC.

Berry distributed one share of Spinco common stock per BERY share held as of Nov 1, 2024; then Spinco merged with Glatfelter subsidiary.
Magnera (NYSE: MAGN) begins trading Nov 5; Berry holders receive 0.276305 MAGN shares per BERY share, owning ~90% of Magnera fully diluted.
Magnera assumed $785M term loan facility (7-year) and $350M revolving credit facility; also $800M of 7.250% senior secured notes due 2031.
Rick Rickertsen resigned from Berry board effective Nov 4 to serve on Magnera board.
Berry retains consumer-focused packaging business; HHNF transfer solidifies portfolio focus on packaging solutions.

item 1.01 item 2.01 item 2.03 item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Rick Rickertsen

director

BERRY GLOBAL GROUP, INC.

Effective: 2024-11-04
Filed: November 4, 2024, 6:59 PM ET

Rick Rickertsen announced that he has determined to resign from his position as a director of the Company, effective November 4, 2024.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Rick Rickertsen resigned as director at BERRY GLOBAL GROUP, INC..

Action: resigned
Role: director

Exact text from the filing

Rick Rickertsen announced that he has determined to resign from his position as a director of the Company, effective November 4, 2024.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

BERRY GLOBAL GROUP, INC. completed a disposition involving Spinco (closed 2024-11-04).

Action: disposition
Counterparty: Spinco
Closing: 2024-11-04

Exact text from the filing

the Company transferred the business, operations, and activities that constitute the majority of its Health, Hygiene, and Specialties segment to include its global nonwovens and hygiene films business (the “HHNF Business”) , subject to certain exceptions as set forth in the Separation Agreement, to Spinco (the “Separation”)

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Source: SEC EDGAR

accession 0001104659-24-113965

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