Australian packaging company Amcor has signed an agreement to acquire flexible packaging manufacturer Alusa for A$570m ($435m).
Amcor expects the acquisition to complement its newly created flexible packaging business in the Americas.
Currently, Alusa operates four plants in South America that include Alusa in Chile, Peruplast in Peru, Aluflex in Argentina and Flexa in Colombia.
Alusa, which is engaged in manufacturing flexible packaging, generates about $375m in annual sales by supplying flexible packaging for food, personal care and pet food products.
Amcor CEO Ron Delia said: "A large number of Amcor's multinational customers operate in South America, and this acquisition significantly improves our ability to support their needs and to grow with them in these markets."
According to Amcor, the acquisition is expected to generate around $25m synergy benefits, with a profit before interest and tax (PBIT) of $65m after three years.
The deal follows the acquisition of packaging firm Deluxe Packages by Amcor in January 2016 for $45m.
Deluxe Packages will be operated as part of Amcor's newly-formed Flexibles Americas business group.
Based in the US, Deluxe Packages operates one manufacturing plant in Yuba City, in Northern California where it produces high-performance flexible packaging products for customers in the fresh food and snack segments.
