With the acquisition of Bemis, Amcor becomes a global packaging giant
UK-headquartered Amcor, a global packaging company, which produces flexible packaging, rigid containers, specialty cartons, closures and services for food, beverage, pharmaceutical, medical-device, home and personal care, and other products, recently announced the successful completion of its acquisition of Bemis, effective 11 June 2019. The combined company will now operate as Amcor.
28 Jun 2019 | 6700 Views | By Dibyajyoti Sarma
According to Ron Delia, chief executive officer, Amcor, the acquisition is a significant milestone as two strong companies with histories dating back over 150 years look forward to one great future.
“The acquisition of Bemis brings additional scale, capabilities and footprint that will strengthen Amcor’s industry leading value proposition and generate significant value for shareholders.” said Delia.
During the 2018 financial year, the company generated combined revenues of more than USD 13.4-billion from operations at approximately 245 locations in more than 40 countries.
“As the global leader in consumer packaging, Amcor is uniquely positioned to capitalise on shifting consumer preferences, an evolving customer and retail landscape, and the increasing need to develop packaging that best protects the product as well as the environment.” said Delia.
Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve value chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly light-weighted, recyclable and reusable, and made using a rising amount of recycled content.
With 48,000 employees, Amcor generate USD 13-billion in sales from operations that span about 250 locations in 40-plus countries.
Amcor to sale of three flexible packaging plants
Amcor has announced that it has entered into a binding agreement with Kohlberg & Company for the sale of three former Bemis plants located in the United Kingdom and Ireland for cash consideration of USD 394 million. Collectively, these three plants generate annual sales of approximately USD 170 million from the sale of flexible packaging for certain healthcare products.
This divestment was required by the European Commission at the time of approving Amcor’s acquisition of Bemis on 11 February 2019. The sale remains subject to customary approvals including European Commission approval of Kohlberg & Company as the buyer and is expected to close in the coming weeks.