Australian packaging firm Amcor has entered an agreement to acquire South American flexible packaging manufacturer Alusa for $435m.
Under the terms of the deal, Amcor will acquire four plants in South America, including Alusa in Chile, Peruplast in Peru, Aluflex in Argentina and Flexa in Colombia.
Alusa has generated around $375m in annual sales by supplying flexible packaging for food, personal care and pet food products.
Amcor CEO Ron Delia said: "A large number of Amcor's multinational customers operate in South America, and this acquisition significantly improves our ability to support their needs and to grow with them in these markets.
"It is pleasing that over a relatively short period of time, our flexible packaging sales in the region will almost double to nearly $1bn with the acquisition of Alusa, and the recently completed acquisition of Deluxe Packages in the US."
In January, Amcor acquired the US-based packaging firm Deluxe Packages for $45m.
Deluxe Packages will operate as part of Amcor's newly-formed Flexibles Americas business group.
The company operates one manufacturing plant in Yuba City, in Northern California, where it produces high-performance, flexible packaging products for customers in the fresh food and snack sectors.
Previously, Amcor acquired US packaging business Constar International, as well as Australian flexible packaging company Detmold Flexibles.