ASX listed national packaging group, Pro-Pac Packaging Ltd (PPG) announced the purchase of the business and assets of Australian Pharmaceutical Containers (APC). APC is a Sydney based importer and distributor of pharmaceutical drawn and blown glass containers and supplier of metal closures to a broad range of industries and customers. The product range of containers and closures is a new product line for the rigid division and will complement and enhance its current offerings. The business has a current annualised turnover in excess of $2 million and the purchase consideration will be funded from Pro Pac’s existing cash resources.
Commenting on the acquisition, Pro Pac’s CEO, Mr Brandon Penn said “This purchase (APC) provides good synergy and opportunities for Pro Pac’s rigid division with a database which includes new and existing clientele. The APC product range will be extended to the company’s interstate distribution centres, further enhancing the philosophy of the one stop packaging shop”.
Pro-Pac Packaging Limited is a diversified manufacturing and distribution company, providing innovative, flexible and rigid packaging solutions for a broad group of customers. PPG is headquartered in Sydney with operations in Adelaide, Brisbane, Melbourne and Perth. PPG’s securities are listed and quoted on the ASX.