Australian packaging giants bought out

Amcor Group's food can and aerosol business in Australia and New Zealand will no longer be Australian owned by the end of this year.

Global company Impress has entered into a definitive agreement to purchase seven of Amcor's packaging facilities, including steel food cans, easy-open ends, peelable ends, and steel and aluminium aerosols.

The principal food markets served by the cans are ready meals, dairy, and fruit and vegetables. The markets for aerosols include cosmetics, air fresheners and insecticides.

The operation soon to be acquired has an annual sales turnover of approximately $250 million and employs approximately 600 people. It is the largest producer of aerosol cans in Australasia, and the second largest producer of food cans.

"After our recent expansion into several new countries (in Eastern Europe, North America, and North Africa), this is another major step in our strategy to extend our geographical coverage while staying focused on our core metal packaging markets," said Francis Labbé, CEO of Impress.

"We feel very comfortable about this business as we know it well through a Technical Assistance Agreement we have had in place since 2002. It is a well-run operation, with good people and a strong reputation for quality and reliability. We believe this is an excellent platform for creating value through the deployment of Impress's skills, particularly in operational excellence and innovation."