Raphael Geminder explores offloading Asian packaging businesses

ASIA – Australian businessman Raphael Geminder is exploring a possible sale of his Asian packaging operations.

According to report by Blooberg, the move could involve the divestment of assets from Dynapack Asia and Pact Group Holdings, two of the region’s notable players in rigid plastic and packaging components manufacturing.

Geminder and his companies have reportedly engaged a financial adviser to evaluate options and have reached out to potential buyers, including private equity firms and international packaging groups.

Early estimates suggest that the combined Asian businesses could be valued at around US$1 billion, though discussions remain preliminary and may not result in a sale.

Geminder currently owns 50% of Dynapack Asia, with the remaining shares held by entities controlled by the Hambali family.

The Hambali family, who founded Dynapack in 1959, are reportedly still weighing whether to participate in any potential transaction.

Dynapack Asia and Pact Group have not yet issued public statements regarding the talks.

Headquartered in Singapore, Dynapack Asia operates across Bangkok, Jakarta, and other key Southeast Asian markets, manufacturing bottles, jars, tubes, and molded components for multinational clients including Coca-Cola, Procter & Gamble, Johnson & Johnson, Shell, and Unilever.

The company’s packaging solutions serve sectors such as personal care, food and beverage, home cleaning, and pharmaceuticals.

Geminder founded Pact Group in 2002, building it into one of the largest recyclers and packaging manufacturers in the southern hemisphere.

The company was delisted from the Australian Securities Exchange in July 2025, when Geminder announced a strategic review of Pact’s Asian operations, including possible asset sales.

The firm’s last financial report showed an 18.4% increase in net debt to A$496 million (US$328 million), underscoring financial pressures that may be driving portfolio realignments.

In a related move toward sustainability, Dynapack Asia partnered with AeroFlexx in 2024 to bring innovative, lightweight, and recyclable liquid packaging to the ASEAN market.

The collaboration combines AeroFlexx’s flexible-yet-rigid bottle technology, reducing virgin plastic use by up to 85%, with Dynapack’s extensive manufacturing network and regional supply relationships.

If the sale proceeds, it would mark a major reshaping of Geminder’s packaging portfolio and signal renewed investor interest in Asia’s fast-growing, sustainability-driven packaging sector.

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