Amcor Acquires CNC Containers

Amcor Limited, a leading global manufacturer and distributor of packaging products based in Melbourne, Australia, completed its acquisition of CNC Containers Corporation, a Washington-based producer of PET (plastic) bottles and preforms, on February 28, 2001. The transaction, completed by way of merger between CNC and a US subsidiary of Amcor, is valued at US$180 million plus a further earn-out payment based on actual results for 2001. As a result of the merger, Amcor also acquired an 80 per cent interest in Pet Products International del Peru, S.A., a South American producer of PET beverage containers. CNC’s business will be managed by representatives of Amcor PET Packaging North America, a division of Amcor Twinpak – North America Inc. and by representatives of CNC’s former management team. Amcor PET Packaging, based in Ontario, is the leading manufacturer of PET containers for the beverage industry in Canada.

Amcor was represented in Canada by a team from Blake, Cassels & Graydon LLP led by Rob Granatstein and comprised of Ian Goldberg and Manuela Belmontes (corporate), Robert Fishlock (environmental) and Gary Daniel (intellectual property). Acting for Amcor in the US was a team from Davis Wright Tremaine LLP led by Joseph Weinstein. In South America, Amcor was represented by María Eugenia Yabar and José Antonio Valdez of Estudio Olaechea. Acting for CNC in the US were Ron Greenman and Kurt Ruttum of Tonkon Torp LLP, and, in Peru, Enrique Peralta of Estudio Peralta Albrecht & Asociados.