The deal will enable Amcor to leverage MDK’s capabilities, product offering, and customer base, and strengthen its position in the Chinese high-growth medical device packaging segment
Amcor has signed an agreement to acquire Shanghai-based medical device packaging firm MDK for an undisclosed sum.
The deal will bolster Amcor’s existing portfolio by adding MDK’s coating capabilities, medical paper-based packaging options, and client base. It will further solidify Amcor’s position in the Chinese medical device packaging industry.
Additionally, the purchase of MDK also reinforces Amcor’s position in the larger Asia Pacific medical packaging area.
Amcor now has four manufacturing facilities that cater to the China, India, Japan, and Southeast Asia regions.
Amcor CEO Ron Delia said: “As Amcor continues to sharpen its focus on higher growth priority segments, the addition of MDK will enhance our already strong healthcare platform in the Asia Pacific region.
“MDK’s talented team brings strong capabilities and a complementary product and customer portfolio. We look forward to working together to unlock value creation opportunities for customers in this fast-growing, high-value segment, which we believe will help us continue to deliver strong returns for our shareholders.”
The latest acquisition of MDK follows the launch of an advanced facility for specialised healthcare packaging in Singapore and the opening of Amcor’s new world-class Asia Pacific Innovation Centre in Jiangyin, China.
The transaction is expected to close in the first quarter of 2023, subject to usual regulatory approvals.
Amcor develops responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other products. The firm improves supply chains through a range of flexible and rigid packaging, specialty cartons, closures and services.
Last month, the packaging firm completed the sale of its three Russian factories to HS Investments for a cash and debt-free consideration value of €370m.
The Russian arm, which employed about 900 people, produces flexible and carton packaging at one location in St. Petersburg and two locations in Novgorod.