The rating on Berry Plastics Group Inc. and its subsidiary Berry Plastics Corp. (formerly known as Berry Plastics Holding Corp.) reflects the company's highly leveraged financial profile, which offsets its fair business profile with large market shares in niche segments, a well-diversified customer base, and strong customer relationships. Berry ranks among the largest packaging companies in North America, with leading positions in both the rigid and flexible plastic packaging segments. Pro forma for the recently announced Captive Plastics Inc. acquisition, the company has about $3.5 billion in annual sales. Berry has obtained financing commitments to fund the acquisition of Captive for about $500 million in cash, and it expects to close the transaction in the first quarter of 2008, subject
