Amcor in $280 Million Deal to Buy North American Speciality Containers Business

By Robb M. Stewart

MELBOURNE, Australia--Australian packaging company Amcor Ltd. (AMC.AU) has struck a deal to bolster its specialty containers operations with the US$280 million acquisition of a North American business serving personal care and food markets.

Amcor said Friday it had agreed to buy the rigid plastics blow-molding operations of Sonoco Products Co. (SON), which has six production sites in the U.S. and one in Canada.

The operations generate annual sales of about US$210 million, and the acquisition price represents a multiple of 8 times earnings before interest, tax, depreciation and amortization for the last 12 months, Melbourne-based Amcor said.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

September 01, 2016 18:47 ET (22:47 GMT)

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