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AMCOR PLC — M&A Activity 2014
Dec 16, 2014
64373_rns_2014-12-16_e52bdab9-2d62-4955-a918-0b1f8c8b8957.pdf
M&A Activity
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17 December 2014
AMCOR ANNOUNCES CHINESE FLEXIBLE PACKAGING ACQUISITION
Amcor announces today, an agreement to acquire Zhongshan Tian Cai Packaging Company, a Chinese flexible packaging business for RMB 211 million. The purchase price represents 7.1 times EBITDA.
Tian Cai has one plant located in Zhongshan and sales of approximately RMB 280 million per annum. The business produces flexible packaging products for the food, beverage and pharmaceutical end markets and supplies leading local and multinational customers.
Amcor is currently the market leader in Southern China, with three flexibles packaging plants, including one plant in Zhongshan. This acquisition will complement the existing food and beverage business and broaden Amcor’s capabilities within the South China region to include pharmaceutical packaging.
Amcor’s Managing Director and CEO, Ken MacKenzie said: “China is one of the most attractive markets for flexible packaging globally. The Tian Cai acquisition is a strong fit with our existing operations and provides an opportunity to further expand Amcor’s customer base and product offering in the South China region.
“Amcor has a strong and successful position in the Chinese flexible packaging market with ten operations covering all key regions, and annualised sales of approximately US$500 million.”
ENDS
For further information please contact:
John Murray Tracey Whitehead Executive GM Corporate Affairs Vice President Investor Relations Amcor Limited Amcor Limited Ph: +61 3 9226 9005 Ph: +61 3 9226 9028
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Amcor Limited 109 Burwood Road Hawthorn VIC 3122 Australia T +61 3 9226 9000 F +61 3 9226 9050 www.amcor.com ABN 62 000 017 372
Amcor Flexibles Packaging China
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Key facts (including Zhongshan Tian Cai acquisition)
10 plants across 4 key geographic regions Leader in flexibles packaging across China Sales approximately US$500 million per annum Co-workers approximately 3,000
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Amcor Limited 109 Burwood Road Hawthorn VIC 3122 Australia T +61 3 9226 9000 F +61 3 9226 9050 www.amcor.com ABN 62 000 017 372