Amcor has agreed to acquire Shanghai-based MDK, one of the leading medical device packaging providers, generating annual sales of approximately US$50 million.
Medical device packaging is one of the key growth segments for Amcor. MDK’s coating capabilities, medical paper-based packaging and customer base complement Amcor’s existing portfolio.
The acquisition is expected to further enhance Amcor’s leading position in the Chinese medical device packaging market. It follows the recent opening of the company’s new Asia Pacific Innovation Center in Jiangyin, China, and the introduction of a dedicated healthcare packaging facility in Singapore in 2022.
The addition of MDK also strengthens Amcor’s leadership in the broader Asia Pacific medical packaging segment, which now comprises four manufacturing sites serving the China, India and Southeast Asia markets.
“As Amcor continues to sharpen its focus on higher growth priority segments, the addition of MDK will enhance our already strong healthcare platform in the Asia Pacific region,” Amcor CEO Ron Delia said.
“MDK’s talented team brings strong capabilities and a complementary product and customer portfolio. We look forward to working together to unlock value creation opportunities for customers in this fast-growing, high-value segment, which we believe will help us continue to deliver strong returns for our shareholders.”
The acquisition is subject to customary regulatory approvals and is expected to close in March 2023.