With the takeover of Indian packaging manufacturer Phoenix Flexibles (Kubadthal, Gujarat; www.phoenixflexibles.com), global packaging group Amcor (Hawthorn, Australia; www.amcor.com) plans to expand capacity in the fast-growing subcontinental market. Phoenix Flexibles produces flexible packaging for food, household, and personal-care products and recently reported sales of around USD 20 mn (EUR 18.3 mn).

Financial details of the transaction, which is expected to close in September 2023, were not disclosed.

Amcor operates four flexible packaging plants in India, where the group recently achieved several consecutive years of organic double-digit sales growth. “We want to continue to grow the flexible packaging business in India,” said Mike Cash, president of Amcor Flexibles Asia Pacific. In addition, he said investments in the pharmaceutical and medical packaging sectors are planned for the region without providing further details.

In 2022, Amcor reported sales of about USD 15 bn with 44,000 employees and 220 locations in 43 countries, and the company divested three plants in Russia in response to the war in Ukraine. In addition, the processor opened a new Chinese plant at the end of 2022 and recently expanded shrink film capacity at the Swansea plant in Wales.