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Amcor Purchases Wayne Richardson Sales

Amcor, Australia, has purchased Wayne Richardson Sales, one of the largest independently owned packaging distributors in Australia with a network of eight distribution centers across the country. Wayne Richardson, a distributor of a broad range of industrial packaging and packaging consumables to small and medium size customers, has sales of approximately $50 million and more than 2,700 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 Managing Director and CEO Ken MacKenzie said that "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."