Amcor, a global frontrunner in the development and manufacture of sustainable packaging solutions, has revealed its recent agreement to acquire Phoenix Flexibles, a move that bolsters Amcor's presence in the thriving Indian market.

Phoenix Flexibles operates from a single facility situated in Gujarat, India, and its operations contribute an annual revenue of around US$20 million through the sale of flexible packaging designed for food, home care, and personal care applications.

Currently boasting four flexible packaging plants in India, Amcor has consistently achieved double-digit organic sales growth annually over the past three years, surpassing the underlying market's growth. The company is also actively investing to expand its local presence in the Pharmaceutical and Medical packaging sectors.

The incorporation of Phoenix Flexibles' strategically positioned and well-capitalized production facility immediately amplifies Amcor's capacity to cater to the ever-growing demand, ensuring robust returns for its shareholders. This acquisition also brings advanced film technology into Amcor's fold, enabling the local production of a wider array of sustainable packaging solutions. Furthermore, it equips Amcor with the capabilities to broaden its product portfolio across appealing high-value segments.

Mike Cash, President of Amcor Flexibles Asia Pacific, underlined the significance of the acquisition, stating, "Amcor remains poised to seize substantial opportunities for the growth of our flexible packaging business in India. With this acquisition, we are investing to sustain and enhance the considerable momentum the business has achieved over several years. The scalable nature of the newly acquired facility, coupled with the incorporation of fresh capabilities, further elevates our customer value proposition in this promising high-growth market."

Source:amcor.com

 

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