The deal between the two companies is expected to be finalised by June this year. Credit: Amcor.

Global packaging company Amcor has announced the signing of a definitive agreement for the acquisition of New Zealand-based privately held company Moda Systems.

The companies have not disclosed the financial details of this transaction.

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The deal is now subject to certain customary closing conditions and approvals. It is scheduled to be completed in the June quarter of the current fiscal year.

Moda Systems’ acquisition is expected to strengthen Amcor’s existing film packaging business.

Amcor said the deal will enable it to provide a wide range of end-to-end packaging solutions, covering primary packaging, equipment as well as other associated on-site technical services and parts.

Amcor Flexibles North America president Fred Stephan said: “This acquisition will enable Amcor to offer an exciting new option and choice in automated protein packaging, making us the only flexible packaging manufacturer to own a high-speed, rotary equipment solution for fresh meat.

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“Combined with our best-in-class film portfolio, we see great strategic value in adding Moda’s automation technology, and technical expertise and services, for a range of customisable format solutions beyond a standard shrink bag.

“This transaction will enable Amcor to further enhance our winning value proposition for our global protein-processing customers.”

Moda Systems specialises in manufacturing automated protein packaging machines.

The company also works on the design and assembly of high-performance modular vacuum packaging solutions for different industries, including those in the dairy, poultry and meat sector.

In addition, Moda offers a rotary vacuum system to enhance the operational capabilities of protein producers, allowing them to minimise wastage, improve safety and optimise labour.

When this rotary vacuum system is combined with Amcor’s available shrink packaging solutions for seafood, poultry, cheese and meat, it is projected to further bolster the value and quality that Amcor offers to its customers, including protein producers.

Moda Systems CEO and founder Richard Newcombe said: “Together, we will deliver innovative expertise at scale, with a mutual dedication to outperformance.

“Our complementary capabilities will accelerate Moda’s founding mission to offer the most advanced vacuum packaging solutions for our customers.”