News: Amcor buys Aperio for $238M

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Packaging manufacturer Amcor Limited (ASX:AMC) says it has inked a deal to buy Aperio Group for $238 million.



Privately owned Aperio Group is a producer of packaging products based in the Asia Pacific, generating annual revenues of about $350 million.



The acquisition is expected to boost scale, efficiency, innovation and security of supply in Australia, New Zealand and Thailand.



Amcor expects to fund the acquisition through existing facilities and says the net synergy benefits could reach $25 million.



While the transaction is still subject to regulatory approvals the Australian Competition and Consumer Commission is expected to make a final decision at the end of this month.



Amcor's net profit fell 9 per cent to $215.6 million in the first half of the 2012 financial year.