US-based packaging distributor TricorBraun has agreed to acquire Cormack Packaging, as it looks to expand its packaging footprint into Australia and New Zealand.
Australian company Cormack, which has been in the business for over 80 years, provides “rigid packaging” for different sectors, including the food and beverage industries, as well as pharmaceutical, personal care, industrial and household cleaning businesses.
“We are incredibly excited to mark our first entry into Australia with the acquisition of Cormack,” said TricorBraun’s president and CEO, Court Carruthers. “Mathew Cormack and his team have established the company as a respected leader in the market over many decades.”
“We are pleased to welcome Cormack to the TricorBraun family, and we look forward to helping the team continue its strong growth while serving customers with innovative and quality packaging solutions.”
TricorBraun will retain all Cormack’s existing team members, including managing director Mathew Cormack and the firm’s executive team.
Mathew Cormack added: “Joining the world-class TricorBraun team is the next great growth chapter in Cormack Packaging’s 82-year history…Sharing like values, as well as a common passion and commitment to be the best partner for our valued customers, make TricorBraun the ideal home for Cormack Packaging to thrive”.
The deal is expected to close later this month and marks TricorBraun’s third acquisition this year.
Terms of the transaction were not disclosed.
© FoodBev Media Ltd 2021
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