TricorBraun expands into Australia and New Zealand with new acquisition
The packaging distributor is purchasing family-owned Cormack Packaging, which is headquartered near Sydney, Australia.
In its first acquisition in that region – and its third acquisition this year – global packaging distributor TricorBraun is purchasing manufacturer Cormack Packaging, which is headquartered near Sydney, Australia.
The financial terms of the deal have not been disclosed.
Cormac has been family-owned for more than 80 years, and primarily serves the food and beverage, pharmaceutical, personal care, industrial and household cleaning industries in both Australia and New Zealand.
“Joining the world-class TricorBraun team is the next great growth chapter in Cormack Packaging’s 82-year history,” said Mathew Cormack, Cormack’s managing director. “I am truly excited for the opportunities this brings to Cormack Packaging to better serve this region’s customers.”
TricorBraun will keep all Cormack employees, including management, and the company will continue to work from existing locations in Australia and New Zealand, TricorBraun officials said in a Sept. 14 statement. Cormack will also retain its name.
The transaction is expected to close later this month.