Amcor to acquire Aperio for $238 million

Packaging giant Amcor has announced that it has reached an agreement to acquire the Aperio Group for $238 million, subject to regulatory and other conditions, including ACCC approval.

The acquisition will add another 13 sites to the existing Amcor Flexibles Asia Pacific Business Group. Once the acquisition is complete, Amcor anticipates its Asia-Pacific business will generate a turnover of approximately $1.2 billion from its 34 plants.

The ACCC is still conducting an investigation into the merger and is expected to make a comment on its final decision on 29 March. Amcor aims to complete the acquisition as close as possible to that date.

Amcor said the purchase of Aperio “is expected to deliver significant benefits to customers in Australia, New Zealand and Thailand in terms of scale, efficiency, innovation and security of supply”.

The Australian Manufacturing Workers’ Union (AMWU) made a submission to the ACCC about the acquisition, warning that the takeover could cost hundreds of jobs.

“We see the move by Amcor as one of eliminating a competitor rather than the acquisition of an asset to benefit the market,” said the AMWU’s Lorraine Cassin.

“We do not see that the acquisition of Aperio would lead to increased or more effective competition resulting in lower prices for consumers or business, or better or more timely delivery of services.”