Amcor selling three flexible packaging plants to private equity firm Kohlberg & Co.
The sale of the three Bemis flexible packaging plants in the UK and Ireland was required by the European Commission as part of the process of Amcor acquiring Bemis.
June 25, 2019 by Canadian Plastics
Global packaging supplier Amcor plc is selling three former Bemis Co. packaging plants located in the United Kingdom and Ireland to U.S.-based private equity firm Kohlberg & Co. for US$394 million.
In a June 25 statement, Melbourne, Australia-based Amcor said that the divestment was required by the European Commission at the time of approving Amcor’s acquisition of Bemis on 11 February 2019.
Last year, Amcor and Neenah, Wis.-based Bemis entered into a strategic agreement that will see Amcor acquire Bemis in a US$6.8 billion deal that creates a global leader in consumer packaging.
The sale to Kohlberg & Co. is expected to close in the coming weeks, Amcor said.
The three plants – located in Londonderry, Northern Ireland; Clara, Ireland; and Brigg, England – have a combined annual sales of approximately US$170 million from the sale of flexible packaging for healthcare products.
Amcor supplies packaging for food, beverage, pharmaceutical, medical, home- and personal-care, and other products. The company employs about 48,000 workers, and generates US$13 billion in sales from operations that span about 250 locations in more than 40 countries.