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.