Packaging design and distribution company TricorBraun is going Down Under.
The St. Louis-based company, which has been in a growth mode for years, is continuing that trend with the purchase of Cormack Packaging, based near Sydney.
Cormack, which has its own manufacturing operations and headquarters in Condell Park, has been a family-owned company for more than 80 years. The company serves both Australia and New Zealand.
Cormack's rigid packaging is used in the food and beverage, pharmaceutical, personal care, industrial and household cleaning markets, TricorBraun said.
"Joining the world-class TricorBraun team is the next great growth chapter in Cormack Packaging's 82-year history," Mathew Cormack, managing director of Cormack Packaging, said in a statement.
TricorBraun will keep all Cormack employees, including management, and the company will continue to work from existing locations in Australia and New Zealand, the new owner said. The company will retain its name.
TricorBraun has made more than two dozen acquisitions recently, including three this year. Both sides expect the transaction to be complete this month.
TricorBraun calls itself North America's largest distributor of primary packaging, including both plastic and glass containers as well as closures, dispensers, tubes and flexibles. The company has more than 50 locations around the world. TricorBraun also designs new packaging.
TricorBraun, itself, was sold earlier this year to Ares Management Corp. and the Ontario Teachers' Pension Plan Board. Management and AEA Investors, the previous majority owner of the company, retained what was described at the time as a "significant investment" in the firm.