Aussie packaging giant Amcor Limited
(ASX:AMC) has bought a South African packaging group for $US22 million.
Nampak Flexibles is describes as a market leader in flexible packaging and generates annual sales of about $US94 million.
CEO and Managing Director Ken MacKenzie says the acquisition will provide Amcor with a platform for growth in the African region.
Nampak Flexibles already services many of Amcor’s existing global customers and Amcor will be looking to leverage its product innovation and design capabilities into this market.
Amcor reported a net profit of $409 million in the first half of the 2015 financial year.
