Amcor, the Australian group which is the world's fourth-largest packaging company, has continued its foray into the European market with the acquisition of Tobepal SA, the flexible packaging and extrusion unit of Spain's Tobepal Group.
Amcor Flexibles recently acquired the UK-based food flexible packaging operations of the Rexam group, and the Tobepal deal will now give it around 25 per cent of the Spanish market. Tobepal SA operates three plants in Spain and almost half of its sales come from the pharmaceutical and cosmetic markets.
Amcor said that it was still interested in expanding its operations in the fragmented European flexible packaging market. Amcor Flexibles Europe was created in mid-2001 following a three-way merger of assets with Danish food producer Danisco and Sweden's Aakerlund & Rausing. Around 80 per cent of its sales come from food and beverage packaging.