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Amcor Limited (ASX:AMC) has inked a deal to buy an Indonesian flexible packaging business called Bella Prima for $27 million.
Bella Prima has two plants in Jakarta which specialise in the high growth shrink sleeve, label and lidding business and achieved sales of about $30 million over 2013.
Amcor CEO and Managing Director Ken MacKenzie says the acquisition will allow Amcor to broaden its product portfolio and deepen customer relationships.
Mr MacKenzie expects anticipated returns will exceed 20 per cent by year three given the expected synergy benefits.
Amcor reported a net profit of $173 million in the first half of the 2014 financial year.
News: Amcor spends $27M on Indonesian packager
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