Amcor expands in India with flexible packaging purchase
Australia-based company buys Packaging India Private Ltd. for US$26 million.
Australia-based packaging giant Amcor Ltd. is continuing to expand operations in India, acquiring Packaging India Private Ltd. (PIPL) for US$26 million from Indian specialty packaging supplier Essel Propack Ltd.
Founded in 1990, PIPL has three plants located in the North and South of India and produces flexible packaging products predominately for the food and personal care markets. The business services leading multinational and local customers and generates annual sales of approximately US$40 million.
Amcor already has four packaging plants in India’s north and west and, in a statement, said the latest acquisition expands its footprint into the country’s south, and adds to its existing blown film and cylinder making capabilities.
“India is a very attractive market for flexible packaging driven by strong economic growth, favourable demographics and rapidly changing retail formats,” said Amcor’s managing director and CEO, Ron Delia. “The PIPL acquisition provides an opportunity to further expand Amcor’s customer base and enhance our unique value proposition in this important, high growth market.”