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BWAY Holding Company To Be Acquired by Madison Dearborn Partners

ATLANTAMarch 29 /PRNewswire-FirstCall/ -- BWAY Holding Company (NYSE: BWY), a leading North American supplier of general line rigid containers, today announced it has entered into an agreement to be acquired by a company organized by Madison Dearborn Partners, LLC ("MDP") in a transaction with a total value of approximately $915 million, including the assumption of debt.

The agreement was unanimously approved by BWAY's Board of Directors.  The transaction was recommended to the Board by a Transaction Committee established to evaluate, together with independent financial and legal advisors, interest in BWAY expressed by third parties.  Under the agreement, BWAY shareholders will receive $20.00 cash for each share of BWAY common stock they own, representing a premium, based on the closing price on March 26, 2010, of approximately 25% percent over the 30 day average closing trading price and 16% over the 90 day average closing trading price.  Bank of America Merrill Lynch and affiliates of Deutsche Bank Securities Inc. have committed to providing the debt financing in support of the transaction.

Thomas S. Souleles, Managing Director of MDP, said, "Madison Dearborn Partners is thrilled to be investing in BWAY, a world class packaging business with leading market positions, outstanding customer relationships, and a proven and exceptional management team."

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