Amcor announces acquisition of tobacco packaging operations in Brazil

Amcor has entered into an agreement to acquire packaging operations of Souza Cruz located in Cachoeirinha, Rio Grande do Sul, Brazil, by approximately $ 30 million.
The Souza Cruz is owned by British American Tobacco plc. and is a leader in the Brazilian market of cigarettes. The investment is supported by a long-term supply contract between Amcor and Souza Cruz and can reach annual sales of approximately $ 63 million.
The Brazilian market represents 35% of consumption of cigarettes from Latin America and is the 12th largest tobacco market in the world.
According to Ken MacKenzie, CEO and Managing Director of Amcor, "this acquisition is aligned with our strategic objective of growth of our packaging businesses in Latin America. It represents an excellent opportunity to support important global customers by broadening access to global innovation platforms of Amcor and the strong operational capabilities ".

The closing of the acquisition is subject to approval by CADE (Administrative Council of economic defense).