Amcor Ltd. is buying a flexible packaging company in California in a $45 million deal that will help form the company’s new Flexibles Americas business group.
Amcor, based in Hawthorn, Australia, sees Deluxe Packages of Yuba City, Calif., as a “well-invested manufacturing plant with attractive technologies, capabilities and highly skilled co-workers.”
Deluxe Packages generates annual sales of about $42 million and makes high-performance flexible packaging for the fresh food and snack segments, Amcor said.
“North America is an attractive region for flexible packaging and this acquisition represents an excellent opportunity to accelerate profitable growth,” Amcor CEO Ron Delia said in a statement.
“With the addition of Deluxe Packages, Amcor’s customer value proposition in the specialty food packaging segment is strengthened with a combined East and West Coast footprint. This acquisition will enhance growth in priority segments and generate strong returns,” Delia continued.
Deluxe Packages was acquired by Paperboard Packaging Corp. in 1969 and later moved to Yuba City, about 45 minutes north of San Francisco. The company has been operating at a 100,000-square-foot plant since 2010, according to its website.
Products include fresh cut produce, frozen food and nut and dried fruit packaging. The company also makes packaging for bakery, dairy, candy, coffee, condiment, confectionery, grains, snack foods and pharmaceuticals, the website states.
Source: plasticsnews.com
The separation is expected to be completed by early Q3, following the receipt of all relevant approvals, including final Board approval. Nouryon intends to reduce its own debt with proceeds received from a planned external financing by Nobian.
Trinseo became a producer of the resin when it acquired Arkema’s PMMA business. It announced that it closed on the €1.14bn deal earlier this month.
As part of the EU’s Single-Use Plastic Directive (SUPD), it will become mandatory for caps and lids to remain attached to all beverage containers up to three liters in capacity from 2024.
