INDIANAPOLIS (WISH) — Evansville-based Berry Global Group on Tuesday announced plans to merge with Swiss packaging provider Amcor.

Berry Global Group has 34,000 employees worldwide and is a leading plastic packaging manufacturer.

The two companies will combine in an all-stock transaction valued at over $8.4 billion.

The transaction has received unanimous approval of the boards of directors of both Amcor and Berry and values Berry’s common stock at $73.59 per share.

“Berry and Amcor have aligned philosophies focused on safety, employee experience, sustainability, innovation, customer intimacy, and functional excellence. We will be better together, and I look forward to all we will achieve as a combined organization,” Berry CEO Kevin Kwilinski said in a release.

Once the merger is complete, the combined entity will be known as Amcor plc.