Amcor acquisition awaits regulatory approval

By Kate Tilley
Correspondent

Published: November 21, 2013 12:10 pm ET
Updated: November 21, 2013 12:12 pm ET

Related to this story

Topics Mergers & Acquisitions, Packaging, Extrusion, Film & Sheet
Companies & Associations Amcor Ltd.

MELBOURNE, AUSTRALIA — Australia’s competition watchdog, the Australian Competition and Consumer Commission (ACCC), is yet to approve packaging giant Amcor Ltd.’s A$50 million acquisition of Detmold Flexibles, a unit of Adelaide-based Detmold Group.

The approval process may take several months, Detmold Group said in a statement.

Melbourne-based Amcor announced the purchase of the privately owned Australian flexibles packaging business on Nov. 18.

Amcor will merge the Melbourne-based business with its Amcor Flexibles Asia Pacific division.

Detmold Flexibles has annual sales of about A$55 million and operates two flexible packaging plants in the state of Victoria at Dandenong and Port Melbourne. Products are sold under the Detmold CGP (consumer goods packaging) brand.

In a statement, Amcor CEO and Managing Director Ken MacKenzie said the deal will give Amcor the option “to invest in both product and process innovation,” adding: “Given the manufacturing overlap in the businesses there is considerable opportunity for operational synergies.”

Detmold Flexibles was created in 2005 when Detmold Group purchased a 100-year-old family-owned company, Charles Gabb Flexible Packaging.

Its key products are flexographic and gravure printed film and paper; solvent, solvent-less and water-based laminations; waxed paper; and stand-up pouches with or without zippers.

Products are manufactured from clear and metalized polypropylene; high and low density polyethylene; PVC; and acrylic-coated barrier films.

Detmold Group Executive Chairman Rodney Detmold said after the sale, his company will focus on its core paper and board products.


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Amcor acquisition awaits regulatory approval

By Kate Tilley
Correspondent

Published: November 21, 2013 12:10 pm ET
Updated: November 21, 2013 12:12 pm ET

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