Global packaging giant Amcor has purchased Bella Prima Packaging, an Indonesian flexible packaging business, for about AUD$30 million (CDN$30 million).
Bella Prima, which has annual sales around AUD$30 million, has two plants in Jakarta and specialises in making shrink-sleeves, labels, and lids.
"Indonesia is an attractive market for flexible packaging given its rising per capita income and changing retail formats," Amcor chief executive Ken MacKenzie said in a statement. "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.”
Sydney-based Amcor already has one flexible packaging plant in Indonesia and the acquisition complements existing operations, broadening Amcor's participation strategy with its multinational and local customers as well as adding to the local talent pool.
Amcor expects returns to exceed 20 per cent by the third year, the statement said.