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Amcor in US$114.8M buyout of AGI-Shorewood's tobacco packaging operations  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 16/02/2013

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(MENAFN - ProactiveInvestors - Australia) Amcor (ASX:AMC) has inked a deal to acquire select printing assets of AGI-Sherwood's Tobacco Packaging and Specialty Folding Carton operations for US114.8 million.

The acquisition will enhance Amcor's business in the higher growth regions of Asia and Latin America and will expand Amcor's packaging plants in South Korea, USA, Mexico and China.

In Mexico it builds on the position established by Amcor following the recent acquisition of Aluprint, while the South Korean plant has about 30% share of the high value add market and supplies major international customers.

For the 2012 calendar year the acquired business had sales of US126 million and EBITDA of US22 million. The EBITDA purchase multiple is 5.2 times based on the last twelve months of earnings.

The net synergy benefits are anticipated to be approximately US13 million and the net cash cost to achieve these synergies is expected to be approximately US20 million.

The acquisition is expected to deliver a return on investment of more than 20% by the end of year three.

 






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