Amcor acquires Indonesia packaging firm Bella Prima
Australia-based packaging group Amcor announced that it has entered into an agreement to acquire Bella Prima Packaging in Indonesia for AUS 27 million.
Bella Prima has two plants in Jakarta specializing in the high growth shrink sleeve, label and lidding business. Sales in 2013 were approximately AUS 30 million.
Amcor currently has one flexible packaging plant in Indonesia. The acquisition will complement its existing operations in the country, said the company.
Amcor's Managing Director and CEO, Ken MacKenzie, comments, "Indonesia is an attractive market for flexible packaging given its rising per capita income and changing retail formats. The Bella Prima acquisition gives Amcor the opportunity to broaden its product portfolio in attractive end market segments and deepen our relationships with key customers. Given the expected synergy benefits, it is anticipated returns will exceed 20% by year three."
