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Amcor considering potential takeover of rival Bemis: reports


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September 10, 2017 by Canadian Plastics

Australia-based packaging giant Amcor Ltd. is considering a takeover of rival Bemis Co., news reports are saying.

According to Reuters and Bloomberg news agencies, Amcor is working with advisers to explore a bid for Bemis, which has a market value of approximately US$4.3 billion.

Considerations are at an early stage and it’s unclear whether Amcor has made an initial approach to Bemis, the reports say.

Amcor said in a statement it was “continually reviewing opportunities to improve shareholder value and, as part of that process, regularly assesses a range of strategic options.”

Headquartered in Neenah, Wis., Bemis makes plastic packaging including printed labels for bottles and yogurt-pot lids, as well as machinery that makes packaging for liquids.

The company reported net sales of US$1.01 billion for the second quarter of 2017.