Australian packaging company Amcor has announced that it reached an agreement to sell its property in Fairfield for a consideration of $120m.
The purchaser is a consortium led by Alpha Partners and a company associated with Glenvill Group.
According to Amcor, the agreement is subject to expected regulatory approvals.
The company will obtain a $10m deposit on exchange of contracts and the proceeds will be paid over a four year period. The profit on sale is anticipated to be about $60m.
Global packaging solutions provider Amcor supplies a range of plastic (rigid & flexible), fiber, metal and glass packaging products.
The company also provides packaging related services that help customers succeed through collaboration and innovation.