SYDNEY, AUSTRALIA — First Brands Corp. of Danbury, Conn., has paid A$206 million (US$159 million) for the consumer packaging operations of National Foods Ltd. of Sydney.
National Foods' Sydney-based NationalPak Australia division makes household consumer products in Australia and New Zealand, including Glad wrap, kitchen and garbage bags.
First Brands owns the Glad brand internationally, but the NationalPak purchase will give the company its first manufacturing and marketing presence in Australia and New Zealand.
NationalPak had sales of A$158.5 million (US$123 million) and pre-tax profit of A$18.8 million (US$14.6 million) last year. Max Ould, National Foods managing director, said NationalPak has an established earnings base and First Brands will expand opportunities for the business.