Reports: Berry Considering Sale of its Nonwovens Business

Berry Global is reportedly considering selling its nonwovens business, according to a report in Bloomberg News. The world’s largest nonwovens producer has not commented on the report. It is said the unit could fetch as much as $2 billion.

Berry acquired the business from Avintiv in 2015. Before the acquisition, Avintiv, formerly known Polymer Group Inc., had invested heavily in the business both through acquisition and capital investment, which propelled it to its position as the world’s largest producer of nonwovens. The company has manufacturing sites globally. Recent investments include a state-of-the art spunmelt line in Nanhai, China and a new spunlace asset, targeted at the global wipes market, in Cujik, The Netherlands. Additionally, the company operates sites throughout the Americas, Europe and Asia where it makes a range of nonwovens technologies serving both disposable and durable markets.

In addition to the nonwovens business, Berry operates a sizable films business which serves similar customers in the health and hygiene markets. In recent years, the company has also focused on expanding this business. In 2017, it acquired films maker Clopay for $475 million.

Last week, Berry announced Kevin Kwilinski would take over as CEO following the retirement of Tom Salmon.