Amcor completed the acquisition of Alusa, which was first announced on 18 April 2016.
The announcement indicated a purchase price of US$435 million, representing 8.5 times PBITDA. Alusa includes Alusa, Peruplast, Aluflex and Flexa.
The business has four plants and a broad range of capabilities, including film extrusion, flexographic and gravure printing, as well as lamination. It is one of the largest flexible packaging manufacturers and suppliers in Chile and Peru. It is also a leading participant in Colombia and Argentina, with one plant in each of these four countries.
Alusa has strong, long-standing relationships with large multinational and regional customers. It generates sales of approximately US$375 million from the supply of flexible packaging for food, personal care and pet food applications.
Amcor CEO and MD Ron Delia note: ‘With the creation of a new flexibles Americas business group in July 2015, there was an expectation this business could accelerate growth in both North and South America. It is pleasing that over a relatively short period of time, our flexible packaging sales in the region will almost double to nearly US$1 billion with the acquisition of Alusa, and the recently completed acquisition of Deluxe Packages in the US.’
He adds that the company comes with a strong management team and provides a unique platform in an important growth region. A large number of Amcor’s multinational customers operate in South America, and this acquisition significantly improves its ability to support their needs and to grow with them in these markets.
‘Along with our leadership positions in Europe and Asia, our customer value proposition will substantially improve with a strong presence in South America. A truly global product offering differentiates Amcor in the flexible packaging marketplace, positioning us as a partner of choice for customers.’
Read more on how Amcor’s flexible innovations won at Alufoil Trophy 2016 here.
