US-headquartered global packaging supplier, TricorBraun, is establishing its footprint in Australia and New Zealand through the imminent purchase, for an undisclosed sum, of Australian closures manufacturer Cormack Packaging. The transaction is expected to close end September.
Family-owned and operated Cormack Packaging has supplied the ANZ market with rigid packaging for more than 80 years, serving the food and beverage, pharmaceutical, personal care, industrial and household cleaning industries.
“We are incredibly excited to mark our first entry into Australia with the acquisition of Cormack,” said Court Carruthers, president and CEO, TricorBraun. “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.”
All Cormack team members, including managing director Mathew Cormack and the company’s executive team, will remain with TricorBraun. The team will continue to work out of the company’s existing locations across Australia and New Zealand.
Effective with the closing of the transaction, Cormack will operate as Cormack Packaging, a TricorBraun company.
“Joining the world-class TricorBraun team is the next great growth chapter in Cormack Packaging’s 82-year history,” said Mathew Cormack. “I am truly excited for the opportunities this brings to Cormack Packaging to better serve this region’s customers. 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 acquisition marks TricorBraun's third for the year, and the first in the ANZ region. Since its founding in 1902, TricorBraun has partnered with management teams to successfully acquire and accelerate growth for more than 25 packaging companies.
Tricor operates in over 50 locations globally, supplying primary packaging solutions across a wide array of customer end markets in plastic and glass containers, closures, dispensers, tubes and flexibles.