Reflects confidence in ePac's unique, digitally enabled business model, providing excellent opportunities to expand Amcor's addressable markets
ZURICH, Sept. 14, 2022 /PRNewswire/ -- Amcor (NYSE: AMCR) (ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced a further strategic investment of up to $45 million in ePac Flexible Packaging ("ePac"), a leader in high quality, short run length digitally-based flexible packaging. The investment will increase Amcor's minority shareholding in ePac Holdings LLC.
Amcor's Executive Vice President of Strategy and Development, Ian Wilson, said, "This additional investment reflects our confidence in ePac's entrepreneurial team and their proven ability to rapidly scale in the high growth, often higher value short run segment. Since our initial investment last year, we have been deeply impressed with ePac's focused and innovative business model centered around deploying a very high level of digitalization and customization. ePac's proven digital technologies enable the delivery of exceptional service levels and significantly reduced lead times. These specializations are designed to meet the unique speed to market and service needs of locally based small to medium customers, skill sets that are highly transferable to areas of Amcor's core business.
"We believe this investment complements Amcor's existing digital activities and is well aligned with our vision that packaging will continue to become more personalized and more connected, as well as more sustainable," Wilson continued. "This partnership is an excellent example of our objective to partner with high growth, visionary companies that provide opportunities for Amcor to leverage new innovations and value propositions while generating strong returns for Amcor shareholders. We are excited to be extending our relationship with a highly successful startup and continuing to support ePac's future growth ambitions."
Founded in 2016, ePac has a fast-growing global footprint and is focused on digital printing technologies to service the short run needs of small customers in the consumer goods industry. Annual revenue has grown more than 600 percent over the past three years to a run rate of over $200 million. ePac operates 25 sites globally, all with an identical set-up, offering customers automated quoting, digital printing capabilities and exceptional service times across a number of product specifications.
ePac's founders began with a mission to provide locally based consumer packaged goods companies the ability to compete with large brands with great packaging. ePac's customers are predominantly small and medium size companies, many of whom are focused on creating natural and innovative products for consumers. ePac's customers benefit from speed to market, the ability to order to demand, and the latest in connected packaging technology through eConnect.
Amcor is a global leader in developing and producing responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content. In fiscal year 2022, 44,000 Amcor people generated $15 billion in annual sales from operations that span 220 locations in 43 countries. NYSE: AMCR; ASX: AMC
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