Amcor to acquire Phoenix Flexibles for expansion in India

Amcor has announced its agreement to acquire Phoenix Flexibles, which will expand Amcor’s capacity in the high-growth Indian Market.

Amcor currently has four flexible packaging plants in India. It business has delivered double-digit organic sales growth per annum over the previous three years, significantly exceeds growth in existing market. It is also investing to double its local footprint in pharmaceutical and medical packaging categories.

While for Phoenix Flexibles, it owns one plant in Gujarat, India. Its revenue of approximately US$20 million is from the sale of flexible packaging for food, home care and personal care applications.

Phoenix Flexibles’ flexible packaging plant in Gujarat, India.

Phoenix Flexibles’ well capitalized and strategically located production facility will add values to Amcor, including advanced film technology, wider range of more sustainable packaging solution in local production and expanded market in attractive high-value segments.

The acquisition is subject to customary closing procedures and is expected to close in September 2023 quarter.