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' <br /> 5 <br /> i - � v7 l 1 C 7 TM "3' qz F / "' h.'mss" 'cam °• a <br /> © R A T 1 0{: Nr1ti� <br /> AND SUBSIDIARIES <br /> ¢ <br /> � <br /> J_BERRY PLASTICS CORPORATION AGREES TO ACQ <br /> , J $ <br /> CAPTIVE PLASTICS,INC. <br /> • .. .. -.i�. Z'C.''& •gyp <br /> . z <br /> EVANSVILLE, INDIANA, DECEMBER 21,2007—Berry Plastics Corporation, an <br /> Apollo Management, L.P. and Graham Partners portfolio company, announced today that <br /> it has entered into a definitive agreement to acquire 100% of the outstanding commonh <br /> stock of Captive Holdings, Inc., the parent company of Captive Plastics, Inc. ("Captive"), <br /> '7 <br /> a First Atlantic Capital, Ltd.portfolio company. Pursuant to the acquisition agreement, <br /> .Berry-will pay approximately$500 million in cash for Captive, subject to certain <br /> ^',sto,ar-y ad tstr In_connGc�io v4t .tffi!�-:t-ta sKaG ion, rz,yu� -?as� �tai.i.r .r c u <br /> :..... — <br /> commitments to finance the transaction. The transaction is scheduled to close inmthe�first <br /> quarter of 2008 and is subject to customary closing conditions. <br /> Captive manufactures blow-molded bottles and injection-molded closures for the food, <br /> healthcare, spirits and personal car6 end markets. Captive is headquartered in <br /> Piscataway, NJ and operates 13 plants across the United States. <br /> Ira Boots, Chairman and CEO of Berry Plastics Corporation, stated "The acquisition of <br /> Captive is another step in our quest to be a total solution provider of plastic packaging <br /> with the Captive product line significantly enhancing our abilities to better serve our <br /> customers.: We are excited about the skill sets that the;Captive employees bring to Berry <br /> for the benefit of all of our customers, employees and investors. Captive has a history of <br /> strong growth and fits in perfectly with our existing product lines." <br /> i <br /> Roberto Buaron, Chairman of First:Atlantic Capital, said, "We are very pleased with the <br /> success of Captive over the past three years and believe the business is well positioned <br /> for future growth as partof Berry Plastics. Our strategy of expanding Captive through <br /> internal investment and add-on acquisitions has built a very strong company and <br /> generated an excellent outcome for°our investors." r <br /> Peter Martin, President and CEO of Captive, said, "Captive is an excellent fit with Berry <br /> Plastics and, together, we will offer a more integrated product line with the ability and <br /> scale to serve the growing plastic packaging needs of our customers. We look forward to <br /> lousing the Berry family." <br /> The_Captive announcement is the second acquisition announced by Berry in the last few <br /> days. On December 19th,Berry announced the acquisition of MAC Closures, Ina <br />