Amcor announces its intention to acquire Moda Systems

Amcor announces its intention to acquire Moda Systems

ZURICH, 8 May 2023 – Amcor (NYSE:AMCR, ASX:AMC), a global leader in the development and production of responsible packaging solutions, today announced that it has signed a definitive agreement to acquire Moda Systems, a leading manufacturer of advanced, automated protein packaging machinery.

Based in New Zealand, privately owned 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 and position the company to offer an end-to-end packaging solution that includes primary packaging, equipment, on-site technical service and parts.

“This acquisition will enable Amcor to offer an exciting new opportunity 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 to a range of custom 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 efficiency for protein manufacturers, enabling them to optimize labor, improve safety and reduce waste. The system is designed to be easy to use in connection, operation, maintenance 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 are pleased to join forces with Amcor, an industry leader who 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 core mission of providing the most advanced vacuum packaging solutions to our customers.”

The purchase is subject to customary closing conditions and is expected to be completed in the June 2023 quarter.

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