Amcor Acquires U.S.-Based Stevens Flexible Packaging

Packaging group Amcor Ltd. (Melbourne) has acquired U.S.-based Stevens Flexible Packaging Inc. for an undisclosed sum. Operating out of Hagerstown, MD, Stevens had annual sales of about A$20 million and provided vertical integration opportunities for Amcor's flexible packaging unit based at Bowling Green, KY, according to Amcor.

Market estimates pegged the acquisition price around the same level as annual sales, A$20 million. Amcor spokesman John Murray said the group's Bowling Green plant supplies polyethelene film as feedstock to Stevens.

"It's a strategically important stepping stone," said Murray, referring to Amcor's aim to grow in North America. He added that Amcor was looking at further opportunities in North America but did not expect to buy anything in the near term.