Amcor Announces $19.8m Acquisition of Uniglobe
The business is strongly aligned with our existing business, servicing large multi-national customers within the food, personal care and health care end markets. Importantly, current management will remain with the business.
22 Mar 2012 --- Amcor announces the A$19.8 million acquisition of Uniglobe, a flexible packaging business based in India.
The acquisition expands Amcor’s existing footprint in India, a strategic high growth market for the flexibles packaging business. The business is strongly aligned with our existing business, servicing large multi-national customers within the food, personal care and health care end markets. Importantly, current management will remain with the business. The expanded management team will play a key role in supporting future growth in the Indian market.
Uniglobe generates annual sales of approximately A$20 million, and was established in 1999 with a single plant located in Daman, 150 kilometres north of Mumbai. A second Daman based plant was commissioned in 2008, supported by strong sales growth of over 20% in the last three years.
After closing Amcor’s new combined Indian business will consist of five manufacturing sites offering its customers innovative packaging solutions.
Managing Director and CEO, Mr Ken MacKenzie, said “This is an important opportunity to expand Amcor’s footprint in the high growth Indian market. The Uniglobe business comes with a strong management team, and a track record of delivering significant annual sales growth.”
