Berry Plastics to own majority of Qingdao P&B Co., Ltd

BERRY Plastics Group, Inc. has been given approval by China to acquire the controlling interest of Qingdao P&B Co., Ltd (P&B), a packaging business with state-of-the-art facilities in Qingdao. Berry will own 75% of P&B, with a minority ownership position retained by Peter Song, who is the original founder of P&B and the current general manager of the business. Mr Song will keep his position. The company will conduct business under the name Qingdao Berry Plastics Limited and provide rigid plastic packaging and personal care products to customers in China as well as globally. P&B has annual revenues of $34 million.