Creates broader more complete portfolio with scale and global breadth, brings together material science and innovation capabilities required to revolutionize product development, enhances positions in attractive categories
Provides clear visibility to approximately 12% EPS accretion in FY26 through synergy benefits alone
35%+ EPS accretion by end of FY28 through $650 million total synergies
Expected annual cash flow of over $3 billion by FY28 provides significant capacity to fund organic reinvestment, value accretive M&A and capital returns to shareholders through a compelling dividend and share repurchases
Unlocks further opportunities to refine portfolio, to enhance average growth rates, margins and cash generation
Amcor plc (“Amcor”) (NYSE: AMCR, ASX: AMC) today announced the successful completion of its all-stock combination with Berry Global (“Berry”), effective today.
Through this combination, Amcor enhances its position as a global leader in consumer and healthcare packaging solutions with the unique material science and innovation capabilities required to revolutionize product development and meet customers’ and consumers’ sustainability aspirations. With multiple new growth opportunities and $650 million of identified synergies, Amcor is well placed to deliver significant near- and long-term value for customers and shareholders.
Amcor CEO Peter Konieczny commented, “This combination delivers on our strategy to become a stronger company with a broader, more complete offering for customers and enhanced positions in attractive categories. Our focus now turns to delivering on synergies and growth opportunities, including leveraging our extensive global footprint and enhanced innovation and R&D capabilities, while also further refining our portfolio. The outstanding work our teams have completed over the past several months enables Amcor to enter fiscal 2026 in a better position than we anticipated, with a synergy run rate that will start strong and build quickly through the year. We are now uniquely positioned to deliver more consistent growth, further improve margins and drive compelling near- and long-term value for shareholders.”
In fiscal 2026, before taking into account growth in the underlying business, Amcor expects delivery of $260 million of pre-tax synergies alone to drive adjusted EPS accretion of approximately 12 percent. By the end of fiscal 2028, the company expects total pre-tax synergy benefits to build to approximately $650 million and to have delivered an additional $280 million one-time cash benefits from working capital improvements. Including full run rate synergies, annual cash flow is expected to exceed $3 billion by fiscal 2028, providing significant capacity for Amcor to fund organic reinvestment, value accretive M&A and shareholder returns through a compelling and growing dividend and share repurchases, taking long-term shareholder value creation to a new and higher level.
Amcor CEO Peter Konieczny concluded, “As a clear leader in consumer and healthcare packaging with a broad global footprint, Amcor is now better positioned to meet customer and consumer needs as markets continue to evolve. We are thrilled to welcome our new employees, customers and shareholders. This is day one of an exciting and incredibly strong future for Amcor and all our stakeholders.”
About Amcor
Amcor is a global leader in packaging solutions for consumer and healthcare products. With industry-leading innovation capabilities, global scale and technical expertise, we help our customers grow and meet the needs of millions of consumers every day. Our teams develop responsible, more sustainable packaging in flexible and rigid formats across multiple materials. Supported by a commitment to safety, ~70,000 colleagues across ~140 countries bring our global capabilities to local customers and provide local access to global brands. Our work is guided by our purpose of elevating customers, shaping lives and protecting the future.
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