Amcor sells stake in Bericap North America for US$122M

Amcor has completed the sale of its 50% interest in Bericap North America for US$122 million to reduce the company’s debt.

Fiscal 2024 total sales for the entire joint venture were approximately US$190 million, and adjusted EBIT was approximately US$19 million. Both of these were previously fully consolidated under Amcor’s Rigid Packaging business, according to Amcor. 

Adjusted net income attributable to Amcor for fiscal 2024 was approximately US$8 million. Despite the resulting reduction in interest expense, Amcor says the transaction is not expected to impact the business’ financial outlook for fiscal 2025. 

In November, Amcor announced it would be acquiring Berry Global in an all-share merger for US$8.43 billion. The deal was said to create a new company capable of providing a wider range of flexible and converted films, scaled containers and closures business and a unique global healthcare portfolio. The merger is expected to close in 2025.