SA packaging company buys Nigerian can manufacturer

South African packaging company Nampak is set to acquire Alucan Packaging, a Nigerian beverage can manufacturer, for US$301 million, according to Southafrica.info.
Nampak CEO Andrew Marshall said the acquisition would significantly increase Nampak's presence in Nigeria where the company manufactures food and general cans at a factory in Lagos and cigarette cartons, food cartons and labels at a factory at Ibadan, 120 kilometres north of Lagos.
Nampak has also hinted at the possible acquisition of a rigid plastics company in Nigeria.
According to Marshall, Nampak currently operates in 12 countries, generating R2.5 billion in annual revenue and almost 30% of its trading profit.