The business made a profit before interest and tax in 2006/07 of $28m.
The transaction is expected to close in the fourth quarter of 2007 and is subject to the customary regulatory approvals.
The Amcor business has an annual sales turnover of approximately €150m and employs approximately 600 people. It is the largest producer of aerosol cans in Australasia, and the second largest producer of food cans.
Impress, based in Deventer, the Netherlands, had worldwide sales of approximately €1.6bn in 2006. It employs approximately 8,000 people in 52 facilities in 19 countries in Europe, North America, Japan, North Africa and the Seychelles.