| By Alcan Packaging |
| Wednesday, 03 February 2010 |
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Amcor announces today that the acquisition of the Alcan Packaging businesses has been
completed. |
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This acquisition provides Amcor with leading global positions in the nominated strategic growth markets for flexible packaging and folding carton packaging for tobacco.
The purchase consideration of US$1,948(1) million represents a PBITDA multiple of 5.1 times based on earnings for the year ended 31 December 2009 of US$383 million (excluding the Medical Flexible |
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operations in the U.S.).
Earnings for the Alcan Packaging businesses acquired increased in the second half of the
2009 calendar year, predominately due to improved economic conditions and benefits
from prior period restructuring.
Amcor’s Managing Director and CEO, Mr Ken MacKenzie, said: “We are delighted to
finalise the acquisition of the Alcan Packaging assets and have their talented team join
Amcor.
“From a strategic perspective, the businesses we have acquired are strongly aligned with our nominated growth segments, and provide the
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ability to substantially improve the value
proposition for our customers.
“We are now focused on ensuring seamless integration of these businesses and on
achieving the synergies and opportunities offered by this acquisition.”
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