Related Party Transactions

12 Months Ended

Sep. 28, 2013

Related Party Transactions [Abstract]

Related Party Transactions

11.  Related Party Transactions  

Management Fee  

Prior to the initial public offering, the Company was charged a management fee by affiliates of Apollo and Graham for the provision of management consulting and advisory services provided throughout the year.  The management fee was the greater of $3 million or 1.25% of adjusted EBITDA.  The management fees are classified in Selling general and administrative in the Statement of Operations.  The management services agreement with Apollo and Graham terminated upon completion of the initial public offering.       

Total management fees charged by Apollo and Graham were $9 millionin fiscal 2012 and 2011.  The Company paid $8 million and $6 millionto entities affiliated with Apollo and $1 millionto entities affiliated with Graham for fiscal 2012 and 2011, respectively.  In connection with the Rexam SBC acquisition, Berry management and the sponsors received a transaction fee of $5 million in fiscal 2012. 

Other Related Party Transactions  

Certain of our management, stockholders and related parties and its affiliates have independently acquired and held financial debt instruments of the Company.  During fiscal 2012, interest expense related to this debtwas $2 million.  

BP Parallel LLC, a non-guarantor subsidiary of the Company, invested $21 million to purchase assignments of $21 million of unsecured term loan during the quarter ended December 29, 2012.  Of the $21 million assignments purchased, $14 million were purchased from third parties affiliated with Apollo.

In connection with our initial public offering in October 2012, the Company paid a $1 million underwriting fee toApollo Global Securities, LLC, an affiliate of Apollo that served as a manager of the offering.

In connection with the incremental term loan Berry Plastics Corporation entered into inFebruary 2013, the Company paid a $1 million underwriting fee to Apollo Global Securities, LLC, an affiliate of Apollothat served as a manager of the offering.

In connection with our secondary offerings in fiscal 2013, the selling stockholders, the Apollo Fund and theGraham Fund, paid $1 million in underwriting fees to Apollo Global Securities, LLC, an affiliate of Apollo thatserved as a manager of the offerings, reflecting its pro rata portion of the aggregate underwriting fee.