Amcor has agreed to acquire speciality packaging company Packaging India Private Limited (PIPL) from Essel Propack as part of a $26.4m deal.
PIPL operates three plants in the north and south of India and produces flexible packaging products predominately for the food and personal care markets. It generated sales of approximately $40m last year, Amcor said.
The deal expands Amcor’s footprint into Southern India, increases the local talent pool and adds to its existing blown film and cylinder making capabilities at a time when the manufacturer is seeking to increase its presence in the Indian market.
Amcor managing director and CEO Ron Delia said: “India is a very attractive market for flexible packaging driven by strong economic growth, favourable demographics and rapidly changing retail formats.
“The PIPL acquisition provides an opportunity to further expand Amcor’s customer base and enhance our unique value proposition in this important, high growth market.”
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