04.18.16
Amcor has announced an agreement to acquire Alusa, the largest flexible packaging business in South America.
The purchase price of US$435 million represents 8.5 times PBITDA. Alusa – which includes Alusa (Chile), Peruplast (Peru), Aluflex (Argentina) and Flexa (Colombia) – is owned by Techpack S.A. and Nexus Private Equity.
The business has four plants and a broad range of capabilities, including film extrusion, flexographic and gravure printing and lamination. It is the largest flexible packaging manufacturer and supplier in Chile and Peru, and a leading participant in Colombia and Argentina, with one plant in each of these four countries.
Alusa has strong, long standing relationships with large multinational and regional customers and generates sales of approximately US$375 million from the supply of flexible packaging for food, personal care and pet food applications.
“With the creation of a new Flexibles Americas Business Group in July 2015, there was an expectation this business could accelerate growth in both North and South America,” Ron Delia, Amcor CEO and managing director, said. “It is pleasing that over a relatively short period of time, our flexible packaging sales in the region will almost double to nearly US$1 billion with the acquisition of Alusa, and the recently completed acquisition of Deluxe Packages in the USA.
“A large number of Amcor’s multinational customers operate in South America, and this acquisition significantly improves our ability to support their needs and to grow with them in these markets,” Delia added. “Along with our leadership positions in Europe and Asia, Amcor’s customer value proposition will substantially improve with a strong presence in South America. A truly global product offering differentiates Amcor in the flexible packaging marketplace, positioning us as a partner of choice for customers.”
Techpack S.A. is listed on the Santiago Stock exchange. The acquisition is subject to approval by Techpack shareholders as well as approval by the relevant regulatory authorities. Completion is expected in the coming months.
The purchase price of US$435 million represents 8.5 times PBITDA. Alusa – which includes Alusa (Chile), Peruplast (Peru), Aluflex (Argentina) and Flexa (Colombia) – is owned by Techpack S.A. and Nexus Private Equity.
The business has four plants and a broad range of capabilities, including film extrusion, flexographic and gravure printing and lamination. It is the largest flexible packaging manufacturer and supplier in Chile and Peru, and a leading participant in Colombia and Argentina, with one plant in each of these four countries.
Alusa has strong, long standing relationships with large multinational and regional customers and generates sales of approximately US$375 million from the supply of flexible packaging for food, personal care and pet food applications.
“With the creation of a new Flexibles Americas Business Group in July 2015, there was an expectation this business could accelerate growth in both North and South America,” Ron Delia, Amcor CEO and managing director, said. “It is pleasing that over a relatively short period of time, our flexible packaging sales in the region will almost double to nearly US$1 billion with the acquisition of Alusa, and the recently completed acquisition of Deluxe Packages in the USA.
“A large number of Amcor’s multinational customers operate in South America, and this acquisition significantly improves our ability to support their needs and to grow with them in these markets,” Delia added. “Along with our leadership positions in Europe and Asia, Amcor’s customer value proposition will substantially improve with a strong presence in South America. A truly global product offering differentiates Amcor in the flexible packaging marketplace, positioning us as a partner of choice for customers.”
Techpack S.A. is listed on the Santiago Stock exchange. The acquisition is subject to approval by Techpack shareholders as well as approval by the relevant regulatory authorities. Completion is expected in the coming months.