Amcor completes sale of BCNA joint venture interest for $122M

Amcor (AMCR) completed the sale of its 50% interest in Bericap North America for $122M on December 27, with the proceeds used to reduce debt. Fiscal 2024 total sales for the joint venture were approximately $190M and adjusted EBIT was approximately $19M, both of which were previously fully consolidated under Amcor’s Rigid Packaging business. Adjusted net income attributable to Amcor for fiscal 2024 was approximately $8M. Net of the resulting reduction in interest expense, the transaction is not expected to have an impact on Amcor’s financial outlook for fiscal 2025.