TricorBraun expands in Australia with PB Packaging acquisition
TricorBraun has entered an agreement to acquire PB Packaging from Pro-Pac Packaging. The $56 million agreement will see the rigid packaging company operate as PB Packaging, a TricorBraun Company, while remaining a standalone business. All employees will be offered positions at the new venture.
“We are excited to grow our business in Australia, offering customers expanded solutions and supply chain options,” said Court Carruthers, President and CEO, TricorBraun. “The PB Packaging team’s dedication to innovation, quality and exceptional customer service make them an ideal fit. We are pleased to welcome PB Packaging to the TricorBraun family, and we look forward to investing in its continued growth.”
This acquisition follows TricorBraun’s purchase of Cormack Packaging back in 2021, which established the company’s presence in the region.
“We are delighted that TricorBraun will acquire PB and that all Rigid team members will be offered positions with TricorBraun,” said Tim Welsh, CEO and Managing Director, Pro-Pac. “TricorBraun is a natural home for the PB business, and we look forward to completing the transaction expeditiously.”
The acquisition, subject to appropriate regulatory approvals and purchase requirements, is expected to close by the second quarter of 2022.
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