Here are 1-3 brief analogies for Amcor (AMCR):

• Amcor is like the Intel of packaging; you don't often see their name, but their products are crucial for countless brands you use every day.
• Amcor is like the Cargill of packaging; a massive, behind-the-scenes company providing essential containers for nearly every consumer product.
• Amcor is the YKK of product packaging – an unseen but ubiquitous and essential component for thousands of brands worldwide.

• Flexible Packaging: Provides rollstock, films, laminates, and pouches for food, beverage, medical, pharmaceutical, and home & personal care industries.
• Rigid Containers: Manufactures plastic bottles and jars, primarily for beverage, food, and personal care markets.

Amcor (NYSE: AMCR) primarily sells its packaging products and solutions to other companies, operating on a business-to-business (B2B) model. As a major global supplier of responsible packaging, Amcor typically serves large multinational corporations across various consumer goods sectors. Due to client confidentiality, Amcor does not publicly disclose a list of its specific major customers.

However, based on the industries Amcor serves and its market position, its customers are generally the leading companies within the following categories:

• Food & Beverage Companies: Manufacturers of snacks, confectionery, dairy products, fresh produce, processed foods, bottled water, soft drinks, spirits, and other beverages. Amcor provides packaging for a vast array of global food and beverage brands.
  Examples of companies that operate in these sectors and are illustrative of Amcor's customer base (though not explicitly confirmed as specific customers by Amcor) include:
  • Nestlé S.A. (OTCMKTS: NSRGY)
  • PepsiCo, Inc. (NASDAQ: PEP)
  • The Coca-Cola Company (NYSE: KO)
  • Mondelez International, Inc. (NASDAQ: MDLZ)
• Pharmaceutical & Medical Device Companies: Producers of prescription drugs, over-the-counter medications, and various medical devices requiring sterile, secure, or specialized packaging solutions.
  Examples of companies that operate in these sectors and are illustrative of Amcor's customer base (though not explicitly confirmed as specific customers by Amcor) include:
  • Johnson & Johnson (NYSE: JNJ)
  • Pfizer Inc. (NYSE: PFE)
  • Novartis AG (NYSE: NVS)
• Home Care & Personal Care Companies: Manufacturers of household cleaning products, detergents, cosmetics, toiletries, and other personal hygiene items. Amcor supplies packaging for many well-known global brands in these segments.
  Examples of companies that operate in these sectors and are illustrative of Amcor's customer base (though not explicitly confirmed as specific customers by Amcor) include:
  • The Procter & Gamble Company (NYSE: PG)
  • Unilever PLC (NYSE: UL)
  • Colgate-Palmolive Company (NYSE: CL)

Peter Konieczny, Chief Executive Officer

Mr. Konieczny was appointed Chief Executive Officer of Amcor in September 2024, having served as Interim CEO since April 2024. He has been a member of Amcor's Global Management Team since 2010. His prior roles at Amcor include Chief Commercial Officer (September 2020 to April 2024), President of Amcor Flexibles, Europe, Middle East & Africa and Latin America (2019-2020), President of Amcor Flexibles Europe, Middle East & Africa (2015-2019), and President of Amcor Specialty Cartons (2010-2015). Before joining Amcor, Mr. Konieczny spent five years in the packaging industry as President of Silgan White Cap. He also held Managing Director and Chief Finance Officer positions in the heavy industrial equipment industry and worked as a management consultant with McKinsey & Company.

Stephen R. Scherger, Executive Vice President and Chief Financial Officer

Mr. Scherger will assume the role of Executive Vice President and Chief Financial Officer, effective November 10, 2025. He brings over 30 years of experience in finance, operations, and strategy within the packaging industry. Most recently, he served as Executive Vice President and Chief Financial Officer of Graphic Packaging (NYSE: GPK) for a decade (2015-2025). During his tenure at Graphic Packaging, he was instrumental in supporting the integration and synergy realization for several large-scale acquisitions, which contributed to the company's net sales more than doubling and net income nearly tripling. Prior to Graphic Packaging, Mr. Scherger held roles in finance, operations, and strategy at MeadWestvaco (2000-2012), including President of the Beverage and Consumer Electronics Division. He began his career at Mead Corporation (1986-2000), where he held various positions, including Chief Financial Officer of the Paper Division. Mr. Scherger is also a member of the Board of Directors of Middleby Corporation (NASDAQ: MIDD).

Fred Stephan, Chief Operating Officer

Mr. Stephan was appointed to the newly introduced role of Chief Operating Officer in September 2024. He joined Amcor in June 2019 with the acquisition of Bemis Company, where he was President of Bemis North America. He previously served as President of Amcor Flexibles North America and has overseen the Amcor Flexibles Latin America business since April 2024. From 2004 to 2017, Mr. Stephan held senior executive and commercial roles at Johns Manville, a Berkshire Hathaway company.

Kirby Losch, Chief Commercial Officer

Mr. Losch became Amcor's Chief Commercial Officer in September 2024, succeeding Peter Konieczny.

David Clark, Chief Sustainability Officer

Mr. Clark was appointed to the new Chief Sustainability Officer role in September 2024. He joined Amcor in 2004 and has been crucial in advancing Amcor's sustainability agenda for 20 years, most recently as Vice President of Sustainability. His previous roles include Vice President, Safety, Environment & Sustainability (2007-2018) and Director Sustainability (2005-2007). Before Amcor, Mr. Clark worked in the high-tech manufacturing and laser optics industries.

The accelerating global push by consumers, brand owners, and governments to significantly reduce reliance on plastic packaging, favoring alternative materials or reusable models. This trend directly threatens demand for Amcor's core plastic-based products, despite their efforts in sustainable plastic innovation.

Amcor (NYSE: AMCR) operates in the global packaging industry, providing a wide range of flexible and rigid packaging solutions across various end markets. These include food, beverage, healthcare, personal care, home care, and pet care.

Addressable Markets for Amcor's Main Products and Services:

• Flexible Packaging: The global flexible packaging market was valued at approximately USD 258.74 billion in 2024 and is projected to grow to USD 406.14 billion by 2032. The Asia Pacific region held a significant share, accounting for 41.44% of the market in 2024. Another estimate places the global market at USD 330 billion in 2024, with a projection to reach USD 562 billion by 2034.
• Rigid Packaging: The global rigid packaging market was valued at about USD 452.96 billion in 2024 and is anticipated to reach USD 704.24 billion by 2032. In 2023, the Asia Pacific region dominated this market with a 44.04% share. The U.S. rigid packaging market alone is projected to reach USD 141.74 billion by 2032.
• Food Packaging: The global food packaging market was valued at an estimated USD 505.27 billion in 2024 and is expected to reach USD 815.51 billion by 2032. Asia Pacific accounted for the largest market share in 2024, at 32.97%. Amcor's food packaging segment alone represented $12.4 billion in 2023.
• Beverage Packaging: The global beverage packaging market was valued at approximately USD 144.40 billion in 2023 and is projected to grow to USD 217.54 billion by 2032. Asia Pacific led the market with a 35.42% share in 2023. The U.S. beverage packaging market is projected to reach USD 39.43 billion by 2032.
• Healthcare Packaging: The global healthcare packaging market was valued at USD 181.13 billion in 2024 and is projected to grow to USD 300.87 billion by 2032. North America held a significant market share of 36.13% in 2023. The U.S. healthcare packaging market is estimated to reach USD 58.53 billion by 2034. Amcor's revenue from the pharmaceutical packaging segment was $3.8 billion in 2023.
• Personal Care Packaging: The global personal care packaging market was valued at USD 44.44 billion in 2024 and is expected to reach approximately USD 123.93 billion by 2034. North America held 41% of the global market share in 2024. The U.S. personal care packaging market alone was estimated at USD 12.80 billion in 2024 and is predicted to be worth around USD 36.40 billion by 2034.
• Home Care Packaging: The global home care packaging market was valued at USD 35.7 billion in 2024 and is projected to reach USD 62.9 billion by 2034. Asia Pacific held the largest market share in this sector, accounting for 38.23% in 2023.
• Pet Care Packaging: The global pet care packaging market was valued at USD 11.8 billion in 2024 and is estimated to grow to USD 19.11 billion by 2034. North America dominated this market with over 34% market share in 2024.

Amcor (AMCR) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Synergy Realization from Berry Global Acquisition: Amcor anticipates significant revenue contributions from the ongoing integration of the Berry Global acquisition. The company projects at least $260 million in pre-tax synergy benefits for fiscal year 2026, with a total of $650 million expected by the end of fiscal year 2028. These synergies include commercial benefits that will directly impact revenue.
2. Organic Growth in High-Value Categories and Emerging Markets: Amcor is focused on strategic investments in organic growth, specifically targeting high-value priority categories and expanding its presence in emerging markets to sustain strong business performance.
3. Volume Growth and Abating Destocking: The company expects a return to overall volume growth, with an anticipated low-to-mid single-digit increase in volumes for the current fiscal year (FY25/FY26). This is partly due to the expected end of destocking trends in the healthcare market, which should lead to improved volumes in that segment.
4. Innovation and Expanded Sustainable Packaging Offerings: Amcor is leveraging its innovation capabilities and expanded product offerings, particularly in sustainable packaging solutions such as recyclable, reusable, and compostable materials. This focus aims to attract customers and drive growth in key markets.
5. Strategic Mergers & Acquisitions and Portfolio Optimization: Amcor actively pursues strategic mergers and acquisitions to achieve incremental growth and create value. Concurrently, the company is optimizing its portfolio by divesting non-core assets to enhance focus on its primary business areas.

Share Repurchases

• Amcor repurchased approximately $431 million in shares during fiscal year 2023.
• In fiscal year 2024, the company repurchased approximately $30 million in shares.
• As of June 30, 2024, Amcor had authorization for an additional $39 million in share repurchases over the subsequent 12 months, with the equity buyback plan extended until June 30, 2024.

Share Issuance

• In November 2024, Amcor announced an all-stock agreement to acquire Berry Global for an estimated $8.4 billion, which completed in April 2025. This transaction would result in Berry shareholders owning approximately 37% of the combined company.

Outbound Investments

• Amcor acquired Berry Global in an $8.4 billion all-stock deal, announced in November 2024 and completed in April 2025, to create a global leader in consumer and healthcare packaging.
• In August 2023, Amcor acquired Phoenix Flexibles, an Indian flexible packaging company with approximately US$20 million in annual revenue, to expand its capacity in the Indian market.
• In fiscal year 2022, Amcor deployed seed capital into start-up players ePac and PragmatIC Semiconductor to gain insights into new technologies and business models.

Capital Expenditures

• Amcor's capital expenditures were $468 million in fiscal year 2021, $527 million in fiscal year 2022, $526 million in fiscal year 2023, $492 million in fiscal year 2024, and $580 million for the latest twelve months ending June 2025.
• For fiscal year 2024, investments included the rapidly growing India market and new equipment to serve the high-value dairy category in North America.
• The company anticipates capital expenditures between $850 million and $900 million for fiscal year 2026, primarily driven by the Berry Global acquisition.