Packaging giant Amcor acquires Packaging India

摘要

ESSEL Propack has sold its wholly-owned subsidiary Packaging India P. Ltd. (PIPL), valued at Rs. 165-crore (US$26.4 million), to Amcor Flexibles India P. Ltd. "The agreement has been signed and the deal is completed for full cash consideration," Essel Propack Ltd. said without disclosing the actual cash realisation. "The enterprise value of the divested business is Rs. 165-crore," it said. An Amcor statement said PIPL has three plants in India and produces flexible packaging mainly for food and personal care markets. It said the business has multinational and Indian customers and generates annual sales of about US$40 million.