Packaging company Amcor has announced a deal to acquire Bemis, a US-based manufacturer of flexible and rigid plastic packaging, for $6.8 billion.
According to both companies, a merger would create a plastic packaging giant with a comprehensive global footprint and more balanced, profitable exposure to emerging markets. The combined company would have sales of $3.5 billion from around 30 different emerging market.
Both companies feel that this deal would deliver the scale and capabilities to drive significant value for shareholders as well as offering customers and employees the most compelling value proposition in the packaging industry.
Amcor and Bemis have claimed that the combination would lead to annual revenues of $13 billion, and cost synergies of approximately $180 million a year.