Apollo Merges Berry and Covalence

Apollo Management is combining portfolio companies Berry Plastics Group Inc. and Covalence Specialty Materials Holding Corp. The stock-for-stock merger results in a single plastic packaging company operating under the Berry name, with Berry chairman and CEO Ira Boots and Berry COO Brent Beeler remaining in place. It will close in April. Apollo acquired both companies last year: Berry for $2.4 billion from GS Capital Partners and JPMorgan Partners, and Covalence from Tyco International for $916 million. Graham Partners also was a minority investor on the Berry deal. www.berryplastics.com www.covcorp.com