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Acquisitions | 3 Months Ended
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Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Acquisitions | Acquisitions Fiscal Year 2026 - Acquisition On August 29, 2025, the Company completed the acquisition of 100% equity interest in a Brazilian entity manufacturing rigid packaging. The purchase consideration amounted to $16 million and is subject to customary post-closing adjustments. The acquisition is part of the Company's Global Rigid Packaging Solutions reportable segment and has resulted in the recognition of acquired identifiable net assets of $15 million and goodwill of $1 million. Goodwill is not deductible for tax purposes. The fair values of the identifiable net assets acquired and goodwill are based on the Company's best estimate as of September 30, 2025, and are considered preliminary. The fair value estimates for the acquisition were based on market and cost valuation methods. The Company aims to complete the purchase price allocation as soon as practicable but no later than one year from the date of the acquisition. Pro forma information related to the acquisition has not been presented, as the effect of the acquisition on the Company's condensed consolidated financial statements was not material. Fiscal Year 2025 - Acquisition of Berry Global Group, Inc. On November 19, 2024, Amcor plc, Aurora Spirit, Inc., a Delaware corporation and wholly-owned subsidiary of the Company (“Merger Sub”), and Berry Global Group, Inc., a Delaware corporation (“Berry”), entered into an Agreement and Plan of Merger (the “Merger Agreement”). On April 30, 2025, the Company completed the Merger with Berry, a global leader in innovative packaging solutions based in the United States, acquiring 100 percent of their equity. Pursuant to the Merger Agreement, the purchase consideration of $10.4 billion, was based on the conversion of each outstanding share of Berry common stock issued (excluding shares held by Berry as treasury stock immediately prior to Merger) to 7.25 Amcor ordinary shares (and, if applicable, cash in lieu of fractional shares), fair value of converted vested Berry share-based awards at closing, fair value of converted unvested share-based awards attributable to pre-combination service, and debt required to be paid off at transaction close. In addition to the purchase consideration below, approximately $5.2 billion of debt was assumed by Amcor. The following table summarizes the fair value of consideration exchanged:
($ in millions, except price per share)
Berry shares outstanding at April 30, 2025 (in millions) | 117
Share Exchange Ratio | 7.25
Price per Share (Based on Amcor’s closing share price on April 30, 2025) | $ | 9.33 |
Total equity consideration issued to legacy Berry shareholders | $ | 7,897 |
Issuance of replacement equity awards | $ | 310 |
Repayment of outstanding Berry indebtedness upon consummation of Merger | $ | 2,190 |
Total consideration | $ | 10,397 |
The Merger with Berry positions the Company as a global leader in consumer packaging and dispensing solutions for healthcare, beauty and wellness and nutrition with a comprehensive global footprint in flexible and rigid packaging solutions and greater scale in the key regions of North America, Latin America, Asia Pacific and Europe, along with industry-leading research and development capabilities. The Merger with Berry was accounted for as a business combination in accordance with ASC 805, "Business Combinations," with Amcor management determining that Amcor is the accounting acquirer in the Merger. The purchase consideration was required to be allocated to the estimated fair values of identifiable assets acquired and liabilities assumed in the transaction. The following is a summary of the preliminary allocation of the purchase price and measurement period adjustments made in the first quarter of fiscal year 2026:
($ in millions) | Initial Purchase Price Allocation | Measurement Period Adjustments | Revised Preliminary Purchase Price Allocation
Cash and cash equivalents | $ | 555 |  | $ | — |  | $ | 555 |
Trade receivables | 1,313 |  | (16) |  | 1,297 |
Inventories | 1,543 |  | (13) |  | 1,530 |
Prepaid expenses and other current assets | 159 |  | (6) |  | 153 |
Property, plant, and equipment | 4,310 |  | 2 |  | 4,312 |
Operating lease assets | 589 |  | 4 |  | 593 |
Deferred tax assets | 39 |  | — |  | 39 |
Other intangible assets | 6,231 |  | (110) |  | 6,121 |
Employee benefit assets | 31 |  | — |  | 31 |
Other non-current assets | 19 |  | (7) |  | 12 |
Total identifiable assets acquired | $ | 14,789 |  |  | $ | 14,643 |
Current portion of long-term debt | $ | 859 |  | $ | — |  | $ | 859 |
Short term debt | 1 |  | — |  | 1 |
Trade payables | 624 |  | — |  | 624 |
Accrued employee costs | 156 |  | 2 |  | 158 |
Other current liabilities | 990 |  | 28 |  | 1,018 |
Non-current operating lease liabilities | 474 |  | 4 |  | 478 |
Long-term debt, less current portion | 4,362 |  | — |  | 4,362 |
Deferred tax liabilities | 2,022 |  | (44) |  | 1,978 |
Employee benefit obligations | 154 |  | — |  | 154 |
Other non-current liabilities | 604 |  | 7 |  | 611 |
Total liabilities assumed | $ | 10,246 |  |  | $ | 10,243 |
Net identifiable assets acquired | $ | 4,543 |  |  | $ | 4,400 |
Fair value of non-controlling interest | (5) |  | (1) |  | $ | (6) |
Goodwill | 5,859 |  | 144 |  | 6,003 |
Net assets acquired | $ | 10,397 |  |  | $ | 10,397 |
The following table details the preliminary identifiable intangible assets acquired from Berry, their fair values and estimated useful lives:
($ in millions) | Fair Value ($ in millions) | Weighted-average Estimated Useful Life (Years)
Customer relationships | $ | 5,385 |  | 16
Technology | 326 |  | 8
Other | 410 |  | 10
Total other intangible assets | $ | 6,121 |  |
The purchase price allocation is preliminary in nature and subject to adjustments, which could be material. The Company is still evaluating the fair value of acquired property, plant and equipment, intangible assets, certain income tax related items and non-controlling interest in addition to ensuring all other assets and liabilities and contingencies have been identified and recorded. Any necessary adjustments will be finalized within one year from the date of acquisition. The preliminary allocation of the purchase price resulted in $1,689 million of goodwill for the Global Flexible Packaging Solutions Segment and $4,314 million of goodwill for the Global Rigid Packaging Solutions Segment, which is not tax deductible. The goodwill on acquisition represents the future economic benefit expected to arise from other intangible assets acquired that do not qualify for separate recognition, including assembled workforce and non-contractual relationships, as well as expected future synergies. The fair value measurement of tangible and intangible assets and liabilities was based on significant inputs not observable in the market and thus represent Level 3 measurements within the fair value measurement hierarchy. Level 3 fair market values were determined using a variety of information, including estimated future cash flows, appraisals and market comparables. The preliminary fair value of customer relationships was determined using an income approach methodology, specifically the multi-period excess earnings method. Key assumptions used in estimating future cash flows included revenue growth rates, long-term growth rates, projected earnings before interest, tax, depreciation and amortization ("EBITDA"), income tax rates, discount rates, and customer attrition rates.

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