Berry Plastics sets terms for $500 million IPO


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Berry Plastics Group, which manufactures plastic goods and containers for consumer applications, announced terms for its IPO on Wednesday. The Evansville, IN-based company plans to raise $500 million by offering 29.4 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, Berry Plastics Group would command a fully diluted market value of $1.9 billion. Berry Plastics Group, which was founded in 1967 and booked $4.8 billion in sales for the 12 months ended June 30, 2012, plans to list on the NYSE under the symbol BERY. BofA Merrill Lynch, Citi, Barclays, Deutsche Bank, Credit Suisse, Goldman Sachs and Baird are the joint bookrunners on the deal.

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This article appears in: News Headlines , IPOs

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