Will provide Amcor with fully integrated, production-ready
fresh protein packaging solution
ZURICH, May 8, 2023 /PRNewswire/ -- Amcor (NYSE:
AMCR; ASX: AMC), a global leader in developing and producing
responsible packaging solutions, today announced that it has signed
a definitive agreement to acquire Moda Systems, a leading
manufacturer of state-of-the-art, automated protein packaging
machines.
Based in New Zealand,
privately-held Moda Systems designs, assembles and supports
innovative, high-performance modular vacuum packaging solutions for
the meat, poultry and dairy industries. The acquisition will
complement Amcor's existing strength in film, positioning the
company to offer an end-to-end packaging solution that encompasses
primary packaging, equipment, on-site technical service and
parts.
"This acquisition will enable Amcor to offer an exciting new
option and choice in automated protein packaging, making us the
only flexible packaging manufacturer to own a high-speed, rotary
equipment solution for fresh meat," said Amcor Flexibles North
America (AFNA) President Fred
Stephan. "Combined with our best-in-class film
portfolio, we see great strategic value in adding Moda's automation
technology, and technical expertise and services, for a range of
customizable format solutions beyond a standard shrink bag. This
transaction will enable Amcor to further enhance our winning value
proposition for our global protein processing customers."
Moda's rotary vacuum system improves operational efficiencies
for protein producers, enabling them to optimize labor, improve
safety and reduce waste. The system is designed for ease of use in
connecting, operating, maintaining and cleaning, and improves
throughput and quality. Combined with Amcor's portfolio of meat,
poultry, seafood and cheese shrink packaging options, this new
solution is expected to further enhance the value Amcor delivers to
protein producers.
"We're delighted to join forces with Amcor, an industry leader
that shares our commitment to innovation and customer service and
support," said Moda Systems Founder and CEO Richard Newcombe. "Together, we will deliver
innovative expertise at scale, with a mutual dedication to
outperformance. Our complementary capabilities will accelerate
Moda's founding mission to offer the most advanced vacuum packaging
solutions for our customers."
The acquisition is subject to customary closing conditions and
is expected to be completed in the June
2023 quarter.
About Amcor
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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