AVINTIV officially withdraws IPO; acquired by Berry Plastics for $2.45B

AVINTIV, a global provider of polymer-based personal and industrial nonwoven materials, officially withdrew its plans for an initial public offering on Thursday as the previously announced acquisition by Berry Plastics was completed for $2.45B.

The Charlotte, NC-based company was founded in 1992 and booked $2.0 billion in sales for the 12 months ended December 31, 2014. BofA Merrill Lynch, Citi, Goldman Sachs, Jefferies and RBC Capital Markets were set to be the joint bookrunners on the deal.