Berry Global Group to acquire Griffon subsidiary for $475M

EVANSVILLE, Ind. (AP) - Indiana-based plastics manufacturer Berry Global Group says it plans to acquire a subsidiary of Griffon Corp. for $475 million.

The company announced Thursday that it's entered into an agreement to acquire that subsidiary, Clopay Plastic Products Co.

Berry officials say the transaction will increase the Evansville-based company's position in fast-growing health and hygiene markets and boost its worldwide presence.

The Evansville Courier & Press reports that Clopay is a global supplier of printed breathable films and an innovator in the development of elastic films and laminates for product offerings designed for hygiene, healthcare, construction and industrial protective apparel.

Evansville-based Berry says that Clopay has nearly 1,500 employees at its locations in the U.S., Germany, Brazil, and China.

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Information from: Evansville Courier & Press, http://www.courierpress.com