Amcor on Tuesday announced finalization of the acquisition of Bemis Company Inc. in a deal valued at $6.8 billion.
The all-stock transaction was first announced last August. Amcor shareholders will now own 71% and Bemis shareholders 29% of the new combined company. The new company operates a Terre Haute facility at 1350 N Fruitridge Ave.
The combined company will now operate as Amcor Plc (Amcor), trading on the New York Stock Exchange under the ticker symbol “AMCR” and the Australian Securities Exchange under the ticker symbol “AMC.” Amcor is included in both the S&P 500 and S&P/ASX 200 indices.
Amcor Chief Executive Officer Ron Delia described the acquisition as “a significant milestone as two strong companies with histories each dating back over 150 years look forward to one great future.”
“The acquisition of Bemis brings additional scale, capabilities and footprint that will strengthen Amcor’s industry leading value proposition and generate significant value for shareholders.” Delia said.
Amcor makes responsible packaging for food, beverage, pharmaceutical, medical, home- and personal-care, and other consumer products. During the 2018 financial year, the company generated combined revenues of more than USD 13.4 billion from operations at approximately 245 locations in more than 40 countries.
“As the global leader in consumer packaging, Amcor is uniquely positioned to capitalize on shifting consumer preferences, an evolving customer and retail landscape, and the increasing need to develop packaging that best protects the product as well as the environment,” Delia said.
“We are delighted to welcome our new employees, customers and shareholders,” Delia said. “This is the first day of an exciting and even stronger future for Amcor and all of our stakeholders.”
Amcor is a global leader in developing and producing responsible packaging for food, beverage, pharmaceutical, medical, home — and personal — care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve value chains through a range of flexible and rigid packaging, specialty cartons, closures, and services, the company said in a release.
Around 48,000 Amcor people generate $13 billion in sales from operations that span about 250 locations in 40-plus countries.