Amcor sells three former Bemis plants
Melbourne, Australia-based Amcor plc will sell three former Bemis production plants in the United Kingdom and Ireland to U.S. private equity firm Kohlberg& for $394 million; Co., as part of its plan to buy the packaging giant Bemis, based in Neenah, Wisconsin.
The European Commission gave conditional approval to Amcor's proposed acquisition in February and required Amcor to divest the assets.
The three manufacturing plants, located in Londonderry, Northern Ireland, Clara, Ireland and Brig, UK, are responsible for "all pharmaceutical packaging businesses" of Bemis, with combined annual sales of about US $170 million.
The deal is subject to customary approvals, including approval by the European Commission, Amcor said in a statement on June 25. Co. 's buyer status.
The company expects to close the deal "in the coming weeks."
Amcor completed its all-share acquisition of Bemis on June 11. Amcor Chief Executive Ron Delia said the acquisition "makes a lot of sense" for both companies and that Bemis will help Amcor gain scale, strength and reach.