What: The $15.5 billion packaging giant Amcor Limited (ASX: AMC) has announced the US$45 million (equivalent to $62 million in Australian dollars) acquisition of Deluxe Packages.

So What: Deluxe Packages is a privately owned flexibles packaging business based in Yuba City, California, which generates revenues of around US$42 million.

According to Amcor’s ASX release, Deluxe Packages is focused on “providing high-performance flexible packaging products to customers in the fresh food and snack segments” and will be incorporated into the newly-formed Flexibles Americas business segment.

Now What: For investors looking to identify ASX-listed companies with appealing growth profiles, Amcor is one for the watch list.

Having spun-off its carton and beverage container businesses into the now separately listed Orora Ltd (ASX: ORA), shareholders in Amcor enjoy exposure to faster growth avenues such as North American flexibles packaging.

While Amcor’s growth prospects may not significantly change this current financial year (based on consensus data provided by Morningstar), looking out over the next couple of years and earnings are set to expand significantly. Based on forecasts for FY 2018, the stock appears to be trading on an undemanding multiple.

The start of a new calendar year also offers investors a prime opportunity to reassess their portfolio positions.

Given the lacklustre outlook for our domestic economy, many investors may choose to skew their portfolio towards both Australia-focussed stocks that can grow at above market rates and towards stocks which offer exposure to faster growing overseas economies. Amongst the blue chips, Amcor, Brambles Limited (ASX: BXB), Computershare Limited (ASX: CPU) and QBE Insurance Group Ltd (ASX: QBE) may all hold appeal for long-term investors.

Why These 3 Blue Chip Shares Look Set to Soar in 2016

Discover The Motley Fool's top 3 blue chips for 2016. These 3 "new breed" shares pay fully franked dividends AND offer the very real prospect of significant capital appreciation. Simply click here to gain access to this comprehensive FREE investment report.

No credit card required

HOT OFF THE PRESSES: Motley Fool’s #1 Dividend Pick for 2017!

With its shares up 155% in just the last five years, this ‘under the radar’ consumer favourite is both a hot growth stock AND our expert’s #1 dividend pick for 2017. Now we’re pulling back the curtain for you... And all you have to do to discover the name, code and a full analysis is enter your email below!

Simply enter your email now to receive your copy of our brand-new FREE report, “The Motley Fool’s Top Dividend Stock for 2017.”

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our https://www.fool.com.au/financial-services-guide">Financial Services Guide (FSG) for more information.

Motley Fool contributor Tim McArthur has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.