Amcor expands its business

Australian global packager Amcor has acquired American Texas-based Apollo Paper for A$ 52 million.
The Apollo business has three distribution centres, in Houston, Dallas and Bryan. Amcor said the pu

Australian global packager Amcor has acquired American Texas-based Apollo Paper for A$ 52 million. The Apollo business has three distribution centres, in Houston, Dallas and Bryan. Amcor said the purchase will enhance Amcor Sunclipse“s position in the American southwest and provide support for further expansion into Mexico. Apollo Paper and Amcor Sunclipse will, in fact, have a combined business in Dallas and El Paso. With the latest acquisition, Amcor Sunclipse will have 40 distribution centres in 13 states in the US and Mexico. Amcor said the business was purchased on an earnings before interest, tax, depreciation and amortisation multiple of about six times and was targeted to achieve a 15% return on funds employed by the third year. Amcor managing director Russell Jones said Amcor Sunclipse had a very successful track record of integrating new operations in the existing business, with more than 28 distribution centres either started or acquired since 1996.