Amcor to acquire Chinese flexible packaging business for $33M

By Jenny Eagle

- Last updated on GMT

Amcor to acquire Chinese flexible packaging business for $33M

Related tags China

Amcor has signed an agreement to acquire Zhongshan Tian Cai Packaging Company, a Chinese flexible packaging business for $33m (RMB 211m) The purchase price represents 7.1 times EBITDA.

Tian Cai has one plant located in Zhongshan and sales of approximately $45m (RMB 280m) per annum. The business produces flexible packaging products for the food, beverage and pharmaceutical end markets to local and multinational customers.

China is one of the most attractive markets for flexible packaging globally​,” said Ken MacKenzie, managing director/CEO, Amcor.

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 10 operations covering all key regions, and annualised sales of approximately US$500m​.”

The firm has three flexibles packaging plants in Southern China, including a plant in Zhongshan.

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