Amcor buys Canadian bottle manufacturer
Canadian PlasticsCanadian Plastics
Australian-based Amcor Ltd. has purchased PET bottle manufacturer Pet Pak Containers from Consumers Packaging Inc.
Australian-based Amcor Ltd. has purchased PET bottle manufacturer Pet Pak Containers from Consumers Packaging Inc. The announced purchase price was $12 million.
Amcor managing director Russell Jones said the acquisition will allow the company to further leverage its strong position in Canada and broaden its product line. "Pet Pak has an excellent reputation for its ability to rapidly develop and deliver high quality PET containers," said Jones.
Pet Pak has one plant in Mississauga, ON which specializes in the manufacture of PET bottles, ranging from 50 ml to 1.75 L, for the liquor market. The company has sales of around $25 million per year, with about 60% of this going to U.S. customers. The PET liquor bottle market in North America has been growing at around 8% per year since 1997.
"This acquisition is consistent with our strategy of targeting fast growing market segments that will compliment our existing high volume soft drink and water businesses," Jones reported