Home Asia Pacific Asia Pacific: Amcor buys Chinese flexible packaging business for US$33.9M

Asia Pacific: Amcor buys Chinese flexible packaging business for US$33.9M

Amcor has made an agreement to acquire Zhongshan Tian Cai Packaging Company, a Chinese flexible packaging business for RMB211 million (US$33.9 million).

The purchase price represents 7.1 times earnings before interest, taxes, depreciation and amortization.

Tian Cai has one plant located in Zhongshan and sales of approximately RMB280 million per annum.

It produces flexible packaging products for the food, beverage and pharmaceutical end markets.

Amcor has three flexibles packaging plants in Southern China, including one plant in Zhongshan.