Amcor buys Italian film manufacturer for EUR 43m

Australian packaging giant Amcor is back on the acquisition trail with the purchase of Italian film producer B-Pack Due for EUR 43m. Amcor has spent heavily in its flexibles operation since the summer of 2009 and this latest deal adds films where the firm "does not have a large position". B-Pack Due produces a range of cast polypropylene (CPP) films for markets including medical, pet food and other laminated food packaging. Amcor currently purchases approximately a third of B-Pack Due production. Amcor chief executive Ken MacKenzie said: "This acquisition is an important step in the overall film strategy for the flexibles business. "B-Pack Due is a global leader in the production of cast polythene film and has a number of specialised products and unique process know-how." B-Pack Due recorded sales of EUR 43m in 2009 and the price tag represents some five times annual EBITDA.

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