Amcor announced it has entered into an agreement to sell its 50% interest in Bericap North America (BCNA) for $122 million. Established in 1997, BCNA is a 50/50 joint venture between Amcor Rigid Packaging and Germany-based Bericap that manufactures closures for beverage, food and industrial end markets in three facilities in the U.S., Canada and Mexico.
Fiscal 2024 total sales for the joint venture were approximately $190 million and Adjusted EBIT was approximately $19 million, both of which were fully consolidated under Amcor’s Rigid Packaging business. Adjusted net income attributable to Amcor was approximately $8 million. Upon closing on or before December 31, 2024, cash proceeds will be used to reduce debt. Net of a resulting reduction in interest expense, the transaction is not expected to have an impact on Amcor’s financial outlook for fiscal 2025.
