The deal - which is the Amcor’s biggest acquisition to date - will help the company capitalise on growth opportunities for flexible packaging in North America and Brazil.
Today, Bemis creates packaging for food, consumer products, healthcare and industrial applications, primarily made of flexible plastic.
Australia-based Amcor also said that it will also shift its main sharemarket listing to the New York Stock Exchange.
Amcor's CEO, Ron Delia, said: "Amcor identified flexible packaging in the Americas as a key growth priority and this transaction delivers a step change in that region.
“There are an increasing number of opportunities arising for a leading packaging company to capitalize on shifting consumer needs, an evolving customer landscape and the need to provide responsible packaging solutions that protect the environment.
“With this transaction, Amcor will have a stronger value proposition with the scale, breadth and resources to unlock value from these opportunities, for the benefit of our shareholders, customers and employees.
According to data from Thomson Reuters, the acquisition is the 12th-largest outbound merger and acquisition (M&A) deal by an Australian-listed company.
Amcor is focused on plastic packaging, with flexible products accounting for approximately 54% of sales and rigid products like bottles accounting for 29%.
Over one-third of Amcor’s sales are in North America, with 31% in Europe and 5% in Australia and New Zealand.
Speaking of the deal, Bemis’ President and CEO, William F. Austen, added: "The combination of Bemis and Amcor is transformational, bringing together two highly complementary organizations to create a global leader in consumer packaging.
“We believe this combination, which is an exciting growth story for both companies, will benefit all stakeholders.
“Our employees will benefit as part of a larger and more global organization focused on a commitment to customer service, integrity and supporting strong teams.
“In addition, the combination will enable us to offer global, regional and local customers the most compelling value proposition in the industry through a broader product portfolio, increased product differentiation and enhanced operating capabilities, while leveraging Bemis’ extensive U.S. manufacturing base and strengths in material science and innovation. “