Amcor has agreed to pay $50m to take over Detmold Flexibles, a privately owned Australian flexibles packaging business now set to be part of Amcor Flexibles Asia Pacific.Detmold Flexibles operates two plants in Melbourne and has sales of about $55m.
Amcor CEO and managing director Ken MacKenzie said: “From a strategic perspective Detmold Flexibles builds on the success of the 2012 Aperio Group acquisition.
“It enables the Australian flexibles business to strengthen their manufacturing centres of excellence with plants focussed on specific technologies and end market segments.
“The acquisition will further improve our customer value proposition in the Australian market by enhancing the ability to invest in both product and process innovation.
“Given the manufacturing overlap in the businesses there is considerable opportunity for operational synergies and returns are expected to be more than 20%.”