Amcor acquires Indonesian flexible packaging converter for US$25m
Amcor is acquiring Indonesian flexible packaging converter Bella Prima Packaging for US$25.2 million (A$27 million).
Amcor is acquiring Indonesian flexible packaging converter Bella Prima Packaging for US$25.2 million (A$27 million).
Bella Prima has two plants in Jakarta specialising in the high growth shrink sleeve, label and lidding business for the beverage, dairy products, food, cosmetic, pharmaceutical and household product sectors. Sales in CY2013 were approximately US$28 million (A$30 million). The purchase price represents 7 times CY2013 EBITDA.
Amcor, which currently has one flexibles packaging plant in Indonesia, says this acquisition is complementary to the existing operations as it broadens the Australian packaging giant’s participation strategy with its multinational and local customers as well as adding to the local talent pool.
“Indonesia is an attractive market for flexible packaging given its rising per capita income and changing retail formats,” said Amcor Managing Director and CEO, Ken MacKenzie.
“The Bella Prima acquisition gives Amcor the opportunity to broaden its product portfolio in attractive end market segments and deepen our relationships with key customers. Given the expected synergy benefits, it is anticipated returns will exceed 20% by year three.”
Source: Bella Prima Packaging
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