Amcor buys Chinese flexible packaging supplier Hebei Qite
In a deal that will expand its flexible packaging operations in China, global packaging supplier Amcor Ltd. has purchased Hebei Qite Packing Co. Ltd.
The terms of the deal have not been disclosed.
Qite has one plant located in Hebei, North China and the business generates sales of over US$28 million from the sale of flexible packaging products to large domestic customers within the dairy and food segments.
“Amcor continues to have substantial opportunities to grow our flexible packaging business in the Asian region. Globally and especially within Asia, China is a very attractive growth market for flexible packaging. This acquisition will enhance our already attractive platform for growth with new and existing customers in the important Northern region,” Amcor CEO Ron Delia said in a statement.
Amcor currently has a total of eleven flexible packaging plants in China, including two plants in close proximity to Qite in Northern China.