Amcor announced it has entered into an agreement to acquire Phoenix Flexibles, expanding Amcor’s capacity in the high-growth Indian market. Phoenix Flexibles has one plant located in Gujarat, India, and the business generates annual revenue of approximately $20M from the sale of flexible packaging for food, home care and personal care applications. Amcor currently has four flexible packaging plants in India. The business has delivered double-digit organic sales growth per annum over the last three years, significantly outpacing growth in the underlying market, and is also investing to double its local footprint in the Pharmaceutical and Medical packaging categories. The acquisition is subject to customary closing procedures and is expected to close in the September 2023 quarter.
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