Amcor has bought privately owned US-based Deluxe Packages for US$45m as part of its plan to form Amcor’s new business group Flexibles Americas. Deluxe runs a manufacturing plant in northern California, and generates revenues of approximately US$42m in its production of packaging for fresh food and snack products. Amcor CEO Ron Delia says the takeover of Deluxe is predicted to strengthen Amcor’s current food packaging sector, while also broadening its presence in both the US east and west coast.

Amcor buys US Deluxe Packages for US$45m

“North America is an attractive region for flexible packaging and this acquisition represents an excellent opportunity to accelerate profitable growth,” says Delia. “This acquisition will enhance growth in priority segments and generate strong returns.” Late last year the packaging giant was dogged by rumours that Amcor headquarters would move from Melbourne to overseas after a large number of Melbourne jobs were shifted to Switzerland. But the rumours are yet to be proven with Amcor HQ remaining in Melbourne. The business has posted very strong positive growth over the last two years, with its share price rising from $6.54 in January 2013 to $13.44 in January of this year.

Comment below to have your say on this story.

If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.  

Sign up to the Sprinter newsletter