Amcor acquires flexible packaging firm as part of India expansion strategy
Amcor has hailed the acquisition of Indian flexible packaging company Uniglobe as an important step in expanding its reach in the burgeoning sub-continent market.
Amcor has hailed the acquisition of Indian flexible packaging company Uniglobe as an important step in expanding its reach in the burgeoning sub-continent market.
Australia-based Amcor announced that it had bought out Uniglobe for A$19.8m (€15.6m, US$20.7m) and immediately signalled its intent to grow the business.
“This is an important opportunity to expand Amcor’s footprint in the high growth Indian market,” said managing director and CEO Ken MacKenzie. “The Uniglobe business comes with a strong management team, and a track record of delivering significant annual sales growth.”
Amcor said the takeover would almost double its current footprint in India from three to five plants. The company described the country as “a strategic high growth market for the flexibles packaging business”. It stressed that the present management team would remain in the business and that it would “play a key role in supporting future growth in the Indian market”.
Multinational customers
The Indian firm, based 150km north of Mumbai produces flexible packaging for the food, personal care and health sectors.
Amcor said Uniglobe’s business was strongly aligned with its own – servicing large multinational customers. The India outfit said Hindustan Unilever Ltd and Cadbury India Ltd were among its clients.
The firm currently generates annual sales of around A$20m from its two plants in its headquarters in Daman. Founded in 1999, the company added a second facility in 2008 which has helped boost sales by 20% over the last three years.
Source: Amcor
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