AUSTRALIA – US-based packaging company TricorBraun has completed its acquisition of Australian packaging provider PB Packaging, a wholly-owned business of Pro-Pac Packaging Limited, expanding its presence in Australia.
Established in 1990, PB Packaging supplies plastic, glass and other forms of rigid packaging in Australia.
The company serves the health, industrial, food and automotive industries and was previously a wholly-owned subsidiary of Pro-Pac Packaging,
The acquisition of PB is intended to expedite TricorBraun’s presence in Australia and its global expansion.
TricorBraun president and CEO Court Carruthers said: “We are pleased to expand our services to customers in Australia while supporting PB Packaging’s growth.
“The PB team shares our strong commitment to innovation, quality and exceptional customer service, and we are happy to officially welcome them to the TricorBraun family.”
The closure comes after TricorBraun and PB Packaging entered an agreement for the deal in April this year. The financial terms of the transaction have not been disclosed.
Following the acquisition, TricorBraun will operate the company as PB Packaging, a TricorBraun company.
At the time of announcing the deal, TricorBraun agreed to retain PB’s current leadership team and offer positions to all 140 of its employees.
The company supplies plastic and glass containers, closures, dispensers, tubes and flexibles for a range of customers and end markets in the Americas, Europe, Asia and Australia.
It also operates an award-winning Design & Engineering Centre, which aims to provide forward-thinking design driven by consumer insight and creative solutions.
The deal allows TricorBraun to exploit the US$ 2.54 billion plastic packaging market in Australia which is expected to grow to US$2.89 billion by 2026.
The growing packaging market can be attributed to the growing population creating demand for more consumables, like beverages, packaged meals, packaged drinking water, and convenience packages.
TricorBraun and other packaging companies are developing new innovative packaging products to meet the demand and call for sustainable packaging to combat climate change.
Since its founding, TricorBraun has acquired and expedited the growth of 36 packaging companies worldwide by partnering with their management teams.
Last month, the company acquired British glass packaging provider Continental Bottle Company (CBC) and glass decorator DiBro.
In September last year, it acquired Cormack Packaging, a company that supplies rigid packaging in Australia and New Zealand.
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