Australia-based packaging solutions provider Amcor has acquired South African packaging company Nampak Flexibles for US$22 million.
Nampak Flexibles offers extrusion, lamination and conversion capabilities in three plants, and generates sales of approximately US$94 million a year. The business services leading multi-national and domestic customers in the beverage, food and home care end markets.
Amcor CEO/Managing Director, Ken MacKenzie said: “This acquisition provides a platform for growth in the African region. Nampak Flexibles has an experienced management team and is the market leader in South Africa. It services many of Amcor’s existing global customers and creates the opportunity to leverage our product innovation and design capabilities into this market.”
Amcor specialises in a range of rigid and flexible packaging products to the food, beverage, healthcare, home and personal care and tobacco packaging industries. In 2013, Amcor restrategised its packaging division to focus on flexible and rigid plastics. Following the demerger, the company has acquired a number of flexible packaging manufacturers globally, with reportedly some US$2 billion worth of acquisitions lined up to happen in the second half of this year. It has been reported to have completed 16 acquisitions over the past four years and undertaken a number of organic growth investments.
The acquisition, which is subject to certain conditions, is expected to be completed in the second half of 2015.
(PRA)
