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Amcor waits on watchdog to net Aperio

Wednesday, 07 March 2012
By Print 21 Online Article

Amcor has reached a $238 million acquisition agreement with Aperio that will see it net 13 new manufacturing facilities across Australia, New Zealand and Thailand, but the company will have to wait until the end of March for the competition watchdog to give it the go-ahead.

The deal, which was announced on 7 March, sees two of the region’s largest flexible packaging players prepare to join forces with an expected combined annual turnover of around $1.2 billion. Individually, Aperio group generates around $350 million a year, with an EBITDA of $40 million for the last financial year.

Amcor will be able to count Aperio’s 13 manufacturing sites across Australia, New Zealand and Thailand along with its existing 21 sites in the Asia Pacific region following the acquisition. The company says the additional sites will help it develop a stronger platform to better meet its customer’s needs, especially in terms of volume and technology.

“The acquisition of the Aperio Group will enable us to deliver an improved offering to customers, particularly through innovation,” says Amcor’s managing director and CEO, Ken MacKenzie (pictured). “This is an important strategic opportunity for our Asia Pacific flexible packaging business.”

It is expected the Aperio acquisition will deliver a return on investment of over 20 per cent within three years from the inking of the deal.

The completion of the acquisition is still dependent on approval of the Australian Competition and Consumer Commission, which will make its final decision on the deal by 29 March.

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