Amcor announces strategic investment in ePac Flexible Packaging
21 April 2021
Amcor, a global leader in consumer packaging, is pleased to announce a strategic investment in ePac Flexible Packaging, a leader in the high quality, short run length digital printing segment for flexible packaging. The investment will range between approximately $10 to $15 million, including a minority ownership interest in ePac Holdings LLC and funding for one or more ePac sites.
Amcor's CEO Ron Delia said, "We are incredibly proud of Amcor's innovation and R&D capabilities but with our scale and global footprint we are also uniquely positioned to supplement our internal efforts with investments in complementary technologies and business models. Our investment in ePac is the first corporate venture-type investment for Amcor and provides a great opportunity to learn from a high growth start-up."
ePac has a fast-growing international footprint and is focused on servicing the needs of small and medium sized consumer goods customers through a unique, digitally enabled and scalable business model. With 18 sites fully operational, and 5 more currently underway, ePac serves thousands of customers around the globe and generates annual revenues of approximately $100 million.
Amcor's Executive Vice President of Strategic Development, Ian Wilson said, "ePac is a truly entrepreneurial technology driven company and has proven its ability to rapidly scale up a flexible packaging business, doubling revenues each year since its formation in 2016. This is an exciting opportunity for both companies to benefit from the combination of innovative technologies and business models and the deep expertise of the industry leader. We look forward to working with the ePac team and exploring opportunities to further extend this partnership in the future."
ePac's founders began with a mission to provide locally-based consumer packaged goods companies the ability to compete with large brands with great packaging. ePac's customers are predominantly locally-based small and medium size consumer goods companies, many of whom are focused on creating natural and innovative products for consumers. ePac's customers benefit from speed to market, the ability to order to demand, and the latest in connected packaging technology through ePacConnect. Each ePac location provides digital printing, prepress, lamination, pouch making, and sales to the markets they serve.
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Amcor is a global leader in developing and producing responsible packaging for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that uses less materials, is increasingly recyclable and reusable, and is made with more recycled content. Around 47,000 Amcor people generate $12.5 billion in annual sales from operations that span about 230 locations in 40-plus countries. NYSE: AMCR; ASX: AMC