Amcor announces today the purchase of Wayne Richardson Sales. With sales of approximately $50 million and over 2,700 customers the business is one of the largest independently owned packaging distributors in Australia with a network of eight distribution centres across Australia.
The business is a distributor of a broad range of industrial packaging and packaging consumables to small and medium size customers.
The purchase multiple was approximately 6.5 times fiscal year 2012 EBITDA and the acquisition is expected to deliver returns in excess of 20% by year three.
Amcor’s Managing Director and CEO, Ken MacKenzie said: “The purchase of Wayne Richardson Sales improves the value proposition of Amcor’s existing packaging business and strengthens our market position. It brings to Amcor a new and more effective channel to small and medium sized packaging customers. The combined business will provide new products as well as additional services and enhanced technical support for customers.”