Australia-based packaging solution provider Amcor Ltd. is buying South African packaging company Nampak Flexibles for US$22 million.
With three plants throughout South Africa, including KwaZulu-Natal and Western Cape, Nampak Flexibles has extrusion, lamination and conversion capabilities and generates annual sales of approximately US$94 million. The business services customers in the beverage, food and homecare end markets.
Amcor specialises in supplying a range of rigid and flexible packaging products to the food, beverage, healthcare, home and personal care and tobacco packaging industries.
“This acquisition provides a platform for growth in the African region,” said Amcor CEO and managing director, Ken MacKenzie. “Nampak Flexibles has an experienced management team and is the market leader in South Africa. It services many of Amcor’s existing global customers and creates the opportunity to leverage our product innovation and design capabilities into this market.”
Nampak expects to complete the acquisition, which is subject to certain conditions, in the second half of 2015.