Pro-Pac announced yesterday that it had acquired Eco Food Pack Australia, a Sydney firm that supplies food packaging trays for the fresh meat, seafood and poultry industries.
Pro-Pac said the deal would provide a revenue boost of about $12 million and would be funded from its existing bank facilities and internal cash flows.
It comes after the group recently added $16 million to its turnover with the acquisition of Australian Flexographic Printers and Poly Products Co. That followed a $49 million boost from buying 10 businesses between October 2011 and November 2012.
Pro-Pac said Eco had experienced “high sales growth” and that Eco’s products and expertise were a natural extension to its business. It added that Eco would be relocated and integrated into Pro-Pac to simplify distribution.
Chief executive Brandon Penn said: “The purchase of the Eco business is a strategic acquisition into the food packing industry and provides a very good fit for our business and customer base to broaden the product range into a market segment that we are focusing on.”
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