Packaging firm Amcor has announced the completion of the sale of its 50% interest in Bericap North America (BCNA), for $122 million (€117.8 million).
The proceeds from the transaction will be used to reduce debt, Amcor said in a statement.
Sales From Joint Venture
In 2024, total sales generated by the joint venture stood at around $190 million (€183.5 million), while adjusted EBIT stood at approximately $19 million (€18.34 million), both of which were previously fully consolidated under Amcor's Rigid Packaging business.
Elsewhere, adjusted net income attributable to Amcor for fiscal 2024 was approximately $8 million (€7.72 million).
Excluding the resulting reduction in interest expense, the transaction is not expected to have an impact on Amcor's financial outlook for the 2025 financial year, the group added.
Berry Global Deal
In November, Amcor announced it would acquire Berry Global for $8.43 billion (€7.98 billion) in an all-stock transaction, combining their operations in consumer and healthcare packaging markets.
Under the agreement, Berry Global shareholders will receive $73.59 per share.
This acquisition is among Amcor's largest to date. In 2019, it acquired Bemis for $5.25 billion in an all-stock deal, which required divesting three manufacturing facilities.
Amcor develops and produces packaging solutions for food, beverage, pharmaceutical, medical, home, personal-care, and other products, as well as collaborating with companies worldwide to protect products, support brand identity, and improve supply chains. Amcor provides flexible and rigid packaging, specialty cartons, closures, and related services. The company is focused on the development of packaging that is recyclable, reusable, lightweight, and includes recycled content.
In fiscal year 2024, Amcor had 41,000 employees, $13.6 billion (€13.13 billion) in sales, and operated 212 locations in 40 countries.
