Amcor signs definitive agreement to acquire Moda Systems, a New Zealand-based manufacturer of automated vacuum packaging machinery for the meat, poultry and dairy industries; acquisition will complement Amcor’s existing strength in film

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May 8, 2023 (press release) –

Will provide Amcor with fully integrated, production-ready fresh protein packaging solution

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

Contacts

Media
Alissa Krinsky: Director AFNA Communications, alissa.krinsky@amcor.com / T: +1-847 971 0854
Ernesto Duran : Vice President Global Communications, ernesto.duran@amcor.com / T: +41 44 316 65 02/ M: +41 78 698 69 40

Investors
Damon Wright: Vice President Investor Relations, damon.wright@amcor.com / +1 224 313 7141
Damien Bird: Vice President Investor Relations Asia Pacific, damien.bird@amcor.com / +61 3 9226 9070

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