Plastic and paper packaging manufacturing giant Amcor today announced that it will acquire India-based flexible packaging business, Uniglobe for $A19.8 million.
The deal is a strategic move to expand the company’s existing presence in India; a market the company sees has “high growth” potential.
Once completed, Amcor’s new combined Indian business will consists of five manufacturing sites offering its customers innovative packaging solutions.
Amcor said the newly acquired business is aligned with its existing business, that is, servicing large multi-national customers within the food, personal care and heath care end markets. Current Uniglobe management will remain with the business, the company said.
Uniglobe established its fist plant in Daman, India in 1999. A second Daman-based plant was commissioned in 2008. Uniglobe claims to generate annual sales of approximately A$20 million.