Amcor acquires Indian flexible packaging company
Australia-based packaging group Amcor announced that it has acquired Packaging India Private Limited (PIPL) form Essel Propack for US$26.4 million.
PIPL has three plants located in the North and South of India and produces flexible packaging products predominately for the food and personal care markets. The business generates annual sales of approximately US$40 million.
Amcor currently has four flexible packaging plants across the North and West of India. The acquisition of PIPL expands its footprint into Southern India and adds to the existing blown film and cylinder making capabilities, according to the company.
"India is a very attractive market for flexible packaging driven by strong economic growth, favorable demographics and rapidly changing retail formats," Amcor's Managing Director and CEO, Ron Delia said. "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."
