Packaging divestment

Australian packaging giant Amcor has offered to acquire the majority of Alcan’s packaging businesses from Rio Tinto for $2.025bn (£1.24bn).

The Alcan Packaging businesses include Alcan Packaging Global Pharmaceuticals, Alcan Packaging Food Europe, Alcan Packaging Food Asia and Alcan Packaging Global Tobacco.

The parts of Alcan Packaging that Amcor has offered to buy would add approximately $4.1bn in sales and 14,000 employees across 80 plants in 28 countries.

The combined company would then be one of the world’s leading packaging companies, with operations in 34 countries, 226 sites worldwide and around 21,000 employees.

The proposed acquisition, which is subject to regulatory approvals as well as consultation with European Works Councils, supports Amcor’s stated objective of growing its flexible packaging and folding cartons businesses.

Until the deal closes in several months’ time, both Amcor and Alcan Packaging will continue to operate as separately run companies.

Rio Tinto recently announced the sale of the Alcan Packaging Food Americas division to the Bemis Company for $1.2bn.