Berry Global has entered into a definitive agreement to acquire the Clopay Plastic Products Company, a subsidiary of Griffon Corporation, for $475 million in cash on a debt-free, cash-free basis.
Clopay is a global supplier of printed breathable films as well as an innovator in the development of elastic films and laminates with product offerings uniquely designed for applications used in a number of markets, including hygiene, healthcare, construction and industrial protective apparel.
Clopay has nearly 1,500 employees with a footprint serving markets across the globe with locations in the United States, Germany, Brazil and China. Clopay delivered $461 million in sales and $53 million in operating EBITDA for its fiscal year ending September 30, 2017.
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