TricorBraun to acquire Australia-based PB Packaging
PB supplies both rigid plastic and glass packaging for the health, industrial, food, and automotive sectors.
In its second acquisition within the past week, packaging supplier TricorBraun has entered into an agreement to acquire Australia-based PB Packaging, a wholly-owned subsidiary of Pro-Pac Packaging Ltd.
The financial terms of the deal have not been disclosed.
“We are excited to grow our business in Australia, offering customers expanded solutions and supply chain options,” said TricorBraun president and CEO Court Carruthers in an April 10 news release.
Founded in 1990, PB supplies both rigid plastic and glass packaging for the health, industrial, food, and automotive industries.
TricorBraun established its footprint in the region with its acquisition of Cormack Packaging in September 2021.
PB’s current leadership team will join TricorBraun, the news release said, and all 140 PB team members will be offered positions with the company. Effective with the closing of the transaction, PB will operate as PB Packaging, a TricorBraun company. The company will continue to operate as a stand-alone business.
The transaction is expected to close in the second quarter of 2022.
The acquisition follows on the heels of St. Louis, Mo.-based TricorBraun’s purchase of California-based packaging distributor PBFY on April 6.