Page 45 - Plastics News February 2022

BUSINESS NEwS

SIG Agrees To Acquire Flexible Packaging Amcor Reports 12%

Company Scholle IPN Net Sales Increase

and sustainable packaging ultinational packaging firm
for food and beverages. MAmcor has reaffirmed its outlook
“It is consistent with our for the fiscal year 2022 (FY22) after
strategy of geographic reporting a net sales growth of 12% to
and category expansion $6.92bn on a reported basis in the first
accompanied by share half of the year.
gains in key markets.” The During the six
transaction is expected to months to 31
close before the end of De cember
the third quarter of this 2 0 2 1 , t he
year subject to customary company’s net
closing conditions being sales increased
met. Once the deal is by 2% on a
completed, Scholle IPN comparable
president and CEO Ross con sta nt
Bushnell will join SIG’s currency basis
witzerland-based aseptic packaging Group Executive Board. compared with a year earlier.Its net
Sprovider SIG has agreed to purchase Scholle IPN chairman and owner income grew by 3% to $427m and its
flexible packaging company Scholle Laurens Last said: “I am excited about earnings per share (EPS) grew by 5%
IPN for an enterprise value of €1.36bn the future of the combined business, and to $0.28 to a share, compared with
($1.53bn) and an equity value of €1.05bn I look forward to our joint innovation, $0.27 to a share in the same period
($1.2bn).Based in the US, Scholle IPN with SIG further developing packaging of last year.In addition, Amcor’s first-
provides a range of sustainable packaging substrates and solutions that are at the half adjusted earnings before interest
products, including its bag-in-box solution forefront of sustain ability.” Last month, and taxes (EBIT) were $769m, up by
SIG agreed to acquire Pactiv Evergreen’s
and spouted pouches.The company carton packaging and filling machinery 5% from last year on a comparable
employs around 2,100 people worldwide businesses in China, Korea and Taiwan, constant currency basis. The company’s
and generated revenues of €474m for the known as Evergreen Asia, for around Flexibles segment reported a 10% rise
12 months to 31 December 2021. The $335m. With this acquisition, SIG will in net sales, while its Rigid Packaging
combined entity will have a total of 69 be able to offer the most sustainable business saw its net sales rise by 17%.
sales and manufacturing sites worldwide, packaging solutions across a wide range Amcor CEO Ron Delia said: “Across
with almost 8,000 employees. SIG said of categories and product sizes. Growth the business, we continued to prioritise
the acquisition of Scholle IPN is intended in bag-in-box is being driven by the shift our customers and our scale and
to allow SIG to offer both larger and from rigid to flexible packaging which operational agility enabled us to service
smaller sustainable packaging solutions significantly reduces the amount of demand in key segments, driving
across a wide range of categories and material needed to package the product. growth and sales mix improvements.
product sizes. The company plans to Scholle IPN has a longstanding focus on “At the same time, we implemented
a broad range of actions to recover
build on its aseptic technology and sustainability and on the light-weighting higher input costs and manage through
expand its use in pouches and bags-in- of both packaging and fitments. It general inflation.”For the 12 months
boxes. In addition, the deal will allow is a pioneer in the development of to 30 June this year, Amcor expects
Scholle IPN to expand its portfolio into mono-materials which are designed for its adjusted EPS to grow by between
the emerging Asia-Pacific, Latin America recycling. Joining together the R&D approximately 7% and 11% on a
and Middle East and Africa markets, capabilities of the two companies will comparable constant currency basis.
where SIG has estab lished a presence. deliver more value to customers by The company is to focus on executing
SIG CEO Samuel Sigrist said: “The advancing the development of material its strategy for long-term value creation
acquisition of Scholle IPN cements SIG’s and aseptic technology to reduce carbon from the strong foundation established
position as a global leader in innovative emissions and food waste. over the last several years.

44 PLASTICS NEWS FEBRUARY 2022 45 PLASTICS NEWS FEBRUARY 2022