Amcor to expand to protein packaging with acquisition of New Zealand’s Moda Systems

NEW ZEALAND – American-Australian global packaging company, Amcor has signed a definitive agreement for the acquisition of New Zealand-based privately held company Moda Systems.

The deal is now subject to certain customary closing conditions and approvals. It is scheduled to be completed in the June quarter of the current fiscal year.

Moda designs, assembles and supports innovative, high-performance modular vacuum packaging solutions for the meat, poultry and dairy industries.

The consumer packaging giant says the acquisition will complement its strength in flexible films, positioning it to offer end-to-end packaging solutions that encompass primary packaging, equipment, on-site technical service and parts.

Fred Stephan, Amcor’s Flexibles North America (AFNA) president said: “This acquisition will enable Amcor to offer an exciting new option and choice in automated protein packaging, making us the only flexible packaging manufacturer to own a high-speed, rotary equipment solution for fresh meat.

“Combined with our best-in-class film portfolio, we see great strategic value in adding Moda’s automation technology, technical expertise and services, for a range of customizable format solutions beyond a standard shrink bag.

“This transaction will enable Amcor to further enhance our winning value proposition for our global protein-processing customers.”

In 2020, AFNA first partnered with Moda to combine its shrink bag and roll stock film for meat and cheese with Moda’s technology to give producers better operational efficiencies and drive down costs.

Moda offers a rotary vacuum system to enhance the operational capabilities of protein producers, allowing them to minimize wastage, improve safety and optimize labor.

When this rotary vacuum system is combined with Amcor’s available shrink-packaging solutions for seafood, poultry, cheese and meat, it is projected to further bolster the value and quality that Amcor offers to its customers, including protein producers.

Moda Systems CEO and founder Richard Newcombe said: “Together, we will deliver innovative expertise at scale, with a mutual dedication to outperformance.

“Our complementary capabilities will accelerate Moda’s founding mission to offer the most advanced vacuum packaging solutions for our customers.”

The decision to acquire Moda comes shortly after the packaging company registered US$11 billion (€9.96 bn), a 4% growth in net sales in the last nine months.

This performance includes, among others, an unfavorable impact of 4% related to movements in foreign exchange rates, and price increases of approximately US$750 million (€679.7m) related to the pass-through of higher raw material costs.

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