News: Amcor buys Uniglobe for $19.8

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Packaging manufacturer Amcor Limited (ASX:AMC) has bought a flexible packaging business based in India called Uniglobe.



Amcor says it has paid $19.8 million for Uniglobe, with the company generating about $20 million in annual sales.



The purchase expands Amcor’s existing footprint in India, boosting the number of its manufacturing sites to five in the country.  



Managing director and CEO Ken McKenzie says the Uniglobe business comes with a strong management team and a track record of delivering significant sales growth.



Earlier this month Amcor inked a deal to buy Asia-based packaging products producer Aperio Group for $238 million.



Amcor reported a net profit of $215.6 million in the first half of its 2012 financial year.