Melbourne, Australia — Packaging giant Pact Group Holdings Ltd. has made another acquisition, buying contract manufacturer Pascoe’s Group for A$41 million (US$31.55 million).
Melbourne-based, publicly listed Pact said Sydney-based Pascoe’s Pty. Ltd. is one of Australia’s largest manufacturers of aerosol and liquid-based consumer products in the household and industrial chemicals category.
Its products include cleaning, pesticides, air care, personal care and food products and it is Australia’s largest aerosol cooking oil manufacturer.
Pascoe’s manufactures branded and private label products for customers and manufactures and distributes some own-brand products. It supplies major supermarkets and hardware stores, according to to Pact.
Pact Group Managing Director and CEO Malcolm Bundey said: “The acquisition of Pascoe’s further expands the group’s investment in specialized contract manufacturing following the acquisitions of Jalco and Australian Pharmaceutical Manufacturers.”
Pact paid A$90 million to buy major pharmaceutical manufacturer Melbourne-based Australian Pharmaceutical Manufacturers Pty. Ltd. in September. A year earlier, it paid A$80 million for fast-moving consumer goods packaging producer Jalco Group Pty. Ltd., headquartered at Prestons, in the state of New South Wales.
Pact is Australasia’s largest rigid plastics packaging manufacturer with operations in Australia, New Zealand and a growing footprint in Asia. It employs more than 4,000 people and produces more than 8 billion units of packaging annually.