: Berry Global hires Citi and Wells Fargo to review strategic alternatives for its health and hygiene business

Berry Global Group Inc. BERY said Friday it hired Citigroup Global Markets and Wells Fargo Security as advisers as it evaluates strategic alternatives for its Health, Hygiene and Specialties (HH&S) unit. Berry Global said it’s considering a sale, strategic partnership or joint venture, spin-off to shareholders, or other separation transaction for some or all of the HH&S business. Berry Global, a specialist in containers and packaging, said it expects HH&S’s leadership team to continue to lead the business. Berry Global said it’s facing no timetable to complete the process and that there’s no guarantee that a deal will take place. Berry Global stock is up 1.1% so far in 2023, compared to a 15.9% rise by the S&P 500 SPX.

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