Amcor has made a strategic investment into ePac Flexible Packaging, giving it minority ownership of the parent company, and providing funding for one or more ePac sites.
Amcor is a global consumer packaging company, with ePac using digital printing technology and a unique approach to the market to disrupt the flexible packaging space. It has a fast-growing international footprint and is focused on servicing the needs of small and medium sized consumer goods customers through a unique, digitally enabled and scalable business model. With 18 sites fully operational, and five more currently under development, ePac serves thousands of customers around the globe and generates annual revenues of approximately $100 million.
Amcor CEO Ron Delia said, ‘We are incredibly proud of Amcor’s innovation and R&D capabilities but with our scale and global footprint we are also uniquely positioned to supplement our internal efforts with investments in complementary technologies and business models. Our investment in ePac is the first corporate venture-type investment for Amcor and provides a great opportunity to learn from a high growth start-up.’
The investment will range between approximately $10-15 million (£7-11 million), including a minority ownership interest in ePac Holdings LLC and funding for one or more ePac sites.
Ian Wilson, executive vice president of strategic development at Amcor, said, ‘ePac is a truly entrepreneurial technology driven company and has proven its ability to rapidly scale up a flexible packaging business, doubling revenues each year since its formation in 2016.
‘This is an exciting opportunity for both companies to benefit from the combination of innovative technologies and business models and the deep expertise of the industry leader. We look forward to working with the ePac team and exploring opportunities to further extend this partnership in the future.’
