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By Chris Wack
Amcor Plc (AMCR) said Tuesday it is selling three former Bemis plants located in the U.K. and Ireland to Kohlberg & Co. for cash consideration of $394 million.
The packaging company said the three plants generate collective annual sales of $170 million from the sale of flexible packaging for health-care products.
Amcor said the divestment was required by the European Commission as part of the company's acquisition of Bemis in February 2019. The sale is expected to close in the coming weeks.
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(END) Dow Jones Newswires
June 25, 2019 06:23 ET (10:23 GMT)
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