04.09.2018

Amcor acquires Bemis

The two, Amcor has acquired rival US firm Bemis groupes, combine in US$6.8 billion all-stock transaction. The deal brings together two of the largest flexible packaging players globally. Closing of the transaction is conditional upon the receipt of regulatory approvals. Subject to the satisfaction of the conditions to closing, the transaction is targeted to close in the first quarter of calendar year 2019.

Combining these two complementary companies will create the global leader in consumer packaging, with the footprint, scale and capabilities to drive significant value for shareholders, offer customers and employees the most compelling value proposition in the packaging industry and deliver the most sustainable innovations for the environment.

The transaction will be effected at a fixed exchange ratio of 5.1 Amcor shares for each Bemis share, resulting in Amcor and Bemis shareholders owning approximately 71% and 29% of the combined company, respectively. Combined revenues of US$13 billion, EBITDA of US$2.2 billion (1), annual cash flow after capital expenditure of more than US$1 billion and an investment grade balance sheet.

Amcor produces flexible packaging, rigid containers, speciality cartons, closures and services for food, beverage, pharmaceutical, medical-device, home and personal-care, and other products.

Bemis manufactures flexible and rigid plastic packaging for food, consumer products, medical and pharmaceutical companies.

Amcor moved for Bemis to increase its global footprint and exposure to emerging markets, and expects sales to reach $3.5bn from around 30 emerging markets. With broadly complementary manufacturing footprints the transaction is more about strategy than hard synergies. The combined company will look to enhance its profile in protein and healthcare packaging, leveraging technologies in barrier films and foils.


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