Amcor has acquired Hebei Qite Packing from northern China for RMB185 million (US$28 million).
Qite has one plant located in Hebei, North China and the business generates sales of more than RMB180 million from the sale of flexible packaging products to large domestic customers within the dairy and food segments.
Amcor has 11 flexible packaging plants in China, including two plants in close proximity to Qite.
Once fully integrated, Amcor will have an even stronger platform to grow the business in this region.
Inclusive of synergy benefits this acquisition will generate strong returns for shareholders within three years.
