Amcor announced on October 31, 2024, that it has entered into an agreement to sell its 50% interest in Bericap North America (BCNA) for $122 million. BCNA is a 50/50 joint venture with Germany-based Bericap, specializing in manufacturing closures for beverage, food, and industrial markets.
The joint venture operates three facilities across the U.S., Canada, and Mexico. Amcor stated that the proceeds from this divestiture are intended to be used for debt reduction.
This strategic move allows Amcor to optimize its portfolio and enhance its financial position. The divestiture reflects a focus on streamlining operations and reallocating capital effectively.
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