M&As this week: Amcor, Smurfit Kappa UK

10 November 2016 (Last Updated November 10th, 2016 18:30)

Amcor, a packaging company based in Australia, has reached an agreement to acquire Hebei Qite Packing, a flexible packaging company based in China, for RMB185m ($28m).

Amcor, a packaging company based in Australia, has reached an agreement to acquire Hebei Qite Packing, a flexible packaging company based in China, for RMB185m ($28m).

The acquisition is expected to help Amcor expand its flexible packaging business in Asia.

Smurfit Kappa Group’s subsidiary, Smurfit Kappa UK, has reached an agreement to acquire Saxon Packaging, a company also based in the UK.

Saxon Packaging converts board into corrugated boxes and fitments.

The financial terms of the acquisition have not been disclosed.