Amcor announces today, an agreement to acquire Zhongshan Tian...

Amcor announces today, an agreement to acquire Zhongshan Tian Cai Packaging
Company, a Chinese flexible packaging business for RMB 211 million. The purchase
price represents 7.1 times EBITDA.
Tian Cai has one plant located in Zhongshan and sales of approximately RMB 280 million
per annum. The business produces flexible packaging products for the food, beverage and
pharmaceutical end markets and supplies leading local and multinational customers.
Amcor is currently the market leader in Southern China, with three flexibles packaging
plants, including one plant in Zhongshan. This acquisition will complement the existing
food and beverage business and broaden Amcor’s capabilities within the South China
region to include pharmaceutical packaging.
Amcor’s Managing Director and CEO, Ken MacKenzie said: “China is one of the most
attractive markets for flexible packaging globally. The Tian Cai acquisition is a strong fit
with our existing operations and provides an opportunity to further expand Amcor’s
customer base and product offering in the South China region.
“Amcor has a strong and successful position in the Chinese flexible packaging market with
ten operations covering all key regions, and annualised sales of approximately US$500