Amcor in talks to offload US$350M waste management unit ESE World to Pacific Avenue Capital

GLOBAL – Amcor has initiated exclusive negotiations to offload its waste management unit ESE World to Pacific Avenue Capital Partners, with the business recording €300 million (approximately US$350 million) in annual revenue.

ESE operates from three plants in Neuruppin and Olpe in Germany and Crissey in France, manufacturing plastic and steel waste containers and providing related waste management services. 

The process still depends on the completion of works council consultation, after which the sale and purchase agreement may be signed. 

The companies are aiming to complete the transaction in the second quarter of 2026, pending regulatory clearances and other standard closing requirements.

A Strategic Divestment for Amcor

For Amcor, the divestment aligns with the packaging giant’s focus on its core packaging operations. 

ESE World, while profitable, sits outside Amcor’s primary business of manufacturing rigid and flexible packaging for food, beverage, pharmaceutical, and personal care markets. 

The ESE business records €300 million in annual revenue, a significant but non-core contributor to Amcor’s overall portfolio, which generated net sales of US$7.5 billion in 2025.

Pacific Avenue’s European Expansion

For Pacific Avenue Capital Partners, the proposed transaction would be the firm’s third deal in Europe and its first investment on the continent through Fund II and its dedicated European sidecar. 

Xavier Lambert, Pacific Avenue’s managing director and Europe head, described ESE as a high-quality business with a proven track record of product innovation and a strong, loyal customer base. 

He noted that Pacific Avenue is excited to partner with the ESE management team and reinvest in the business, both organically and through strategic add-on acquisitions, seeing a significant opportunity to support ESE’s next phase of growth.

What ESE Brings to the Table

ESE manufactures plastic and steel waste containers used for municipal and industrial waste collection, including bins for recyclables, organic waste, and residual waste. 

The company also provides related waste management services, positioning it as a provider of both hardware and operational support. 

Under Pacific Avenue’s ownership, ESE could pursue selective follow-on acquisitions to expand its geographic footprint or product range.

When a Container Maker Gets New Ownership

A business that makes waste bins is not Amcor’s core. 

But for Pacific Avenue, ESE is a platform, operational, cash-generating, and ready for add-ons. The €300 million revenue is the baseline; the question is how high private equity can lift it.

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