Berry Global Group Inc. BERY, +1.44% 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, +0.14%.
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