Amcor has teamed with Danisco and Akerlund & Rausing to corner 15% of the European flexible packaging market.


Amcor, the Australian packaging group, will own 67% of the new company called Amcor Flexibles Europe. Danisco will hold 25%, and Ahlstrom, Akerlund & Rausings parent company, will own 8%.


Arrangements are in place for Amcor to own 100% of the company within two to four years, and future opportunities for acquisition have not been ruled out.


It is unclear how many staff will be made redundant but jobs will initially go in the sales and marketing departments, with more to follow, according to Akerlund & Rausing vice-president for marketing Pre-Stefan Gersbro.


The firm hopes to achieve sales of 623m (E1bn) from its 40 plants in 14 countries. Synergies are expected from a number of initiatives, including improved raw material purchasing.


The formation of Amcor Flexibles Europe is expected to occur by June, but the merger is subject to regulatory approvals by the EU Commission.


"Our EU market share is still relatively modest, so were hopeful the merger will be approved," said Amcor Europe corporate marketing manager Simon Embleton-Smith.


Story by Jeremy Allen