Amcor, an Australian-American, UK-domiciled global consumer packaging company, has confirmed a strategic investment of up to USD 15 million in ePac Flexible Packaging, including a minority ownership interest in the company and funding for one or more ePac sites.
According to a statement released by Amcor, the investment will range between approximately USD 10 million to USD 15 million.
‘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,’ commented Amcor's CEO, Ron Delia. ‘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.’
ePac 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 underway, ePac serves thousands of customers worldwide and generates annual revenues of approximately USD 100 million.
Amcor's executive vice president of strategic development, Ian Wilson, added: ‘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.’