Amcor Boosts Presence In India Through Phoenix Flexibles Buyout
Portfolio Pulse from Lekha Gupta
Amcor PLC (NYSE:AMCR) has announced an agreement to acquire Phoenix Flexibles, a move aimed at expanding its presence in the high-growth Indian market. The acquisition, expected to close in Q3 2023, will allow Amcor to expand its product offering in high-value segments and add advanced film technology for more sustainable packaging solutions. Phoenix Flexibles generates annual revenue of approximately $20 million. As of March 31, 2023, AMCR's cash and cash equivalents stood at $564 million.
August 11, 2023 | 2:26 pm
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Amcor's acquisition of Phoenix Flexibles is a strategic move to expand its presence in the Indian market. This could potentially boost its revenue and profitability in the long run.
The acquisition of Phoenix Flexibles allows Amcor to expand its product offering and add advanced film technology, which could potentially increase its market share and profitability. Furthermore, Phoenix Flexibles' annual revenue of approximately $20 million could contribute to Amcor's financial performance.
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IMPORTANCE 80
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