The acquisition of Phoenix Flexibles will expand Amcor’s capacity in the high-growth Indian market.
Amcor, a global pioneer in developing and manufacturing environmentally responsible packaging solutions, announced the acquisition of Phoenix Flexibles, which will increase Amcor’s capacity in the fast-growing Indian market.
Amcor’s acquisition of Phoenix Flexibles will increase its capacity in the rapidly growing Indian market.
Phoenix Flexibles has one unit in Gujarat, India, and the company earns around US$20 million in yearly sales through the sale of flexible packaging for food, home care, and personal care applications.
In India, Amcor now operates four flexible packaging units. Over the previous three years, the company has produced double-digit organic sales growth per year, greatly surpassing growth in the underlying market, and it is also investing to double its local footprint in the Pharmaceutical and Medical packaging categories.
The addition of Phoenix Flexibles’ well-capitalized and strategically located production facility will immediately increase Amcor’s capacity to satisfy continued high demand and drive strong returns for shareholders. The acquisition also adds machine-direction oriented film technology, enabling local production of a broader range of more sustainable packaging solutions. It also brings capabilities allowing Amcor to expand its product offering in attractive high-value segments.
Amcor Flexibles Asia Pacific President Mike Cash said, “Amcor continues to see substantial opportunities to grow our flexible packaging business in India. With this acquisition, we are investing to maintain and build upon the significant momentum the business has delivered over several years. The scalable nature of the acquired facility, combined with the localization of new capabilities, further enhances our customer value proposition in this attractive high-growth market.”
The acquisition is subject to customary closing procedures and is expected to close in the September 2023 quarter.
Amcor is a global leader in developing and producing responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other products. Amcor works with leading companies worldwide to protect their products and those who rely on them, differentiate brands and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services.
Source: Amcor
