AMCOR EXPANDS HEALTHCARE PLATFORM IN THE ASIA PACIFIC REGION WITH ACQUISITION OF MDK

Rhea-AI Summary

Amcor (NYSE: AMCR) announced its acquisition of Shanghai-based MDK, a leader in medical device packaging with annual sales of approximately $50 million. This acquisition aims to enhance Amcor’s presence in the growing medical device packaging segment, particularly in the Asia Pacific region, where it now operates four manufacturing sites across China, India, Japan, and Southeast Asia. The acquisition is projected to close in the March 2023 quarter, subject to regulatory approvals. The move is expected to unlock value creation opportunities and strengthen Amcor's healthcare platform, enhancing returns for shareholders.

Positive

• Acquisition of MDK will enhance Amcor's capabilities in medical device packaging.
• MDK's customer base and product offerings complement Amcor's existing portfolio.
• Strengthens Amcor's position in the Asia Pacific medical packaging segment.

Negative

• None.

Complementary capabilities, product offering, and customer base solidifies leadership position in priority high growth medical device packaging segment

ZURICH, Jan. 16, 2023 /PRNewswire/ -- Amcor (NYSE: AMCR) (ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced it has entered into an agreement to acquire Shanghai-based MDK. MDK generates annual sales of approximately $50 million and is a leading provider of medical device packaging, a key priority growth segment for Amcor.

MDK's coating capabilities, medical paper-based packaging offerings and customer base complements Amcor's existing portfolio, further enhancing its leading position in the Chinese medical device packaging market. The addition of MDK also strengthens Amcor's leadership in the broader Asia Pacific medical packaging segment, which now comprises four manufacturing sites serving the China, India, Japan and Southeast Asia markets.

"As Amcor continues to sharpen its focus on higher growth priority segments, the addition of MDK will enhance our already strong healthcare platform in the Asia Pacific region," said Amcor CEO Ron Delia. "MDK's talented team brings strong capabilities and a complementary product and customer portfolio.  We look forward to working together to unlock value creation opportunities for customers in this fast-growing, high-value segment, which we believe will help us continue to deliver strong returns for our shareholders."

The acquisition of MDK follows the recent opening of Amcor's new world class Asia Pacific Innovation Center in Jiangyin, China, and the introduction last year of a state-of-the-art dedicated healthcare packaging facility in Singapore.

The acquisition is subject to customary regulatory approvals and is expected to close in the March 2023 quarter.

About Amcor

Amcor is a global leader in developing and producing responsible packaging solutions 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 supply chains through a range of flexible and rigid packaging, specialty cartons, closures and services. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content. In fiscal year 2022, 44,000 Amcor people generated $15 billion in annual sales from operations that span 220 locations in 43 countries. NYSE: AMCR; ASX: AMC

www.amcor.com I LinkedIn I Facebook I YouTube

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Tracey Whitehead		Damien Bird		Damon Wright
Global Head of Investor Relations		Vice President Investor Relations		Vice President Investor Relations
Amcor		Amcor		Amcor
+61 3 9226 9028 / +1 2244785790		+61 3 9226 9070		+1 224 313 7141
tracey.whitehead@amcor.com		damien.bird@amcor.com		damon.wright@amcor.com
Media – Australia		Media - Europe & North America
James Strong		Julie Liedtke
Partner		Media Relations Director
Citadel-MAGNUS		Amcor
+61 448 881 174		+1 847 204 2319
jstrong@citadelmagnus.com		julie.liedtke@amcor.com

 

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SOURCE Amcor

FAQ

What is the significance of Amcor's acquisition of MDK?

The acquisition will strengthen Amcor's position in the medical device packaging market and enhance its product offerings.

How much annual revenue does MDK generate?

MDK generates approximately $50 million in annual sales.

When is the expected closing date for Amcor's acquisition of MDK?

The acquisition is expected to close in the March 2023 quarter, pending regulatory approvals.

How will this acquisition impact Amcor's shareholders?

The acquisition is expected to unlock value creation opportunities and strengthen returns for Amcor's shareholders.

What markets will Amcor serve with the acquisition of MDK?

Amcor will serve markets in China, India, Japan, and Southeast Asia with the addition of MDK.