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PRO-PAC PACKAGING LIMITED — M&A Activity 2012
May 7, 2012
65602_rns_2012-05-07_cee0ca15-8ba2-4b36-a8b7-fb06f12a55c7.pdf
M&A Activity
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Pro-Pac Packaging Limited ACN 112 971 874
8 May 2012
Pro Pac Packaging acquires Australian Pharmaceutical Containers
ASX listed national packaging group, Pro-Pac Packaging Ltd (ASX: PPG) today announced the purchase of the business and assets of Australian Pharmaceutical Containers (APC).
APC is a Sydney based importer and distributor of pharmaceutical drawn and blown glass containers and supplier of metal closures to a broad range of industries and customers.
The product range of containers and closures is a new product line for the rigid division and will complement and enhance its current offerings.
The business has a current annualised turnover in excess of $2 million and the purchase consideration will be funded from Pro Pac’s existing cash resources.
Commenting on the acquisition, Pro Pac’s CEO, Mr Brandon Penn said “This purchase (APC) provides good synergy and opportunities for Pro Pac’s rigid division with a database which includes new and existing clientele. The APC product range will be extended to the company’s interstate distribution centres, further enhancing the philosophy of the one stop packaging shop”.
For further information please call Mr Brandon Penn, CEO on (02) 8781 0500.
About PPG
Pro-Pac Packaging Limited is a diversified manufacturing and distribution company, providing innovative, flexible and rigid packaging solutions for a broad group of customers. PPG is headquartered in Sydney with operations in Adelaide, Brisbane, Melbourne and Perth. PPG’s securities are listed and quoted on the ASX.
For further information on PPG visit www.ppgaust.com.au
Pro-Pac Packaging Limited ACN 112 971 874 148 Newton Road, Wetherill Park NSW 2164 PO Box 6205 WPBC, Wetherill Park NSW 2164 Tel: 02 8781 0500 Fax: 02 8781 0599 www.ppgaust.com.au