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Amcor completes previously announced sale of BCNA joint venture interest for $122 million; Proceeds used to reduce debt
AMCRAmcor(AMCR) Prnewswire·2024-12-30 14:58

Core Insights - Amcor completed the sale of its 50% interest in Bericap North America for 122million,withproceedsaimedatdebtreduction[1][3].CompanyOverview−Amcorisagloballeaderinresponsiblepackagingsolutions,servingvarioussectorsincludingfood,beverage,pharmaceuticals,andpersonalcare[4].−Thecompanyoperatesin40countrieswith41,000employees,generating122 million, with proceeds aimed at debt reduction [1][3]. Company Overview - Amcor is a global leader in responsible packaging solutions, serving various sectors including food, beverage, pharmaceuticals, and personal care [4]. - The company operates in 40 countries with 41,000 employees, generating 13.6 billion in annual sales from 212 locations [4]. Financial Performance - The joint venture's fiscal 2024 total sales were approximately 190million,withanadjustedEBITofaround190 million, with an adjusted EBIT of around 19 million, previously consolidated under Amcor's Rigid Packaging business [5]. - Adjusted net income attributable to Amcor for fiscal 2024 was approximately $8 million, and the sale is not expected to impact the financial outlook for fiscal 2025 after accounting for reduced interest expenses [5].