Amcor PET deal to add €500m to La Seda revenues

17 October 2007 14:31  [Source: ICIS news]

LONDON (ICIS news)--La Seda de Barcelona (LSB) has signed a final agreement to buy Amcor PET Packaging Europe for about €430m ($611m), the Spanish producer said on Wednesday.

The deal will boost Barcelona-based LSB’s annual revenues by €500m to an estimated €2.1bn and add seven plants to its manufacturing base.

Amcor makes 9m polyethylene terephthalate (PET) containers and bottles a year, controlling 13% of the European market.

LSB said the deal will transform it into Europe’s largest PET supplier and the third globally.

“Amcor’s acquisition heralds the end of our vertical integration and gives us a solid client portfolio," said LSB chairman Rafael Espanol in a statement late on Tuesday.

“Its broad geographical reach and proximity to the end client will increase our scale and competitiveness.”

With 900 clients, Amcor distributes its products to leading bottled and soft drink vendors such as Coca-Cola, Danone, Carlsberg and Unilever.

LSB will gain access to Amcor’s modern research technology centre in Brecht, Belgium, and its recycling factory in France, placing it at “the vanguard” of PET development, the company said.

After years of acquisitions and major investment in the PET market, LSB has grown from a small chemicals producer to a group employing 2,100 people in 22 European factories.

By: Ivan Castano Freeman
+44 20 8652 3214

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