Berry sells its shares in CPI to Agile Capital for boosting local partnerships and empowerment.
Berry’s Strategic Partnership in South Africa
Berry Sells CPI Shares to Agile Capital. WDB Investment Holdings witnessed the deal, as the former Broad-Based Black Economic Empowerment (B-BBEE) partner of Berry CPI South Africa.
In a letter dated March 6, 2024, Craig Matthews who serves as the Managing Director for Berry CPI SA highlighted the strategic nature of this move. He said; “The interpretation around broad based black economic empowerment structures resulted in both Berry CPI South Africa and WDBIH disposing of their investment within Berry CPI South African.”
Investment By Agile Capital
Agile Capital achieved a milestone by purchasing Berry’s CPI’ shares. Liz Kolobe describes this as a significant step towards empowerment. Noting it as an “attractive investment opportunity” due to their 100% black ownership and significant women ownership in Johannesburg.
Future Prospects And B-BBEE Audit
After selling its shares through this deal towards another B-BBEE audit, Matthew’s expressed his happiness about partnering together saying that “This transaction will unlock access to international products and technology for our customers whilst enabling us to buy from an empowered supplier.”
About Berry & Agile Capital
Berry Global Group Inc is known globally for their sustainable packaging solutions. The creation through innovation while making use of its worldwide resources base. Agile capital being a private equity firm. And it focuses on investing into high growth potential businesses within South Africa.
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