Platypus Print Packaging is aiming to be a leading Australian-owned folding carton printer, following its acquisition of the Ovato packaging business.
Aaron Lusch, director at Platypus said, “The purchase will increase our folding carton manufacturing capacity and allow us to realise the synergies of the two businesses. Our five-year strategic plan is focused on organic growth, however, this acquisition supports our objectives to become the leading Australian-owned folding carton manufacturer.”
The Ovato brand will disappear, with the business becoming part of Platypus Print Packaging. Staffing levels are not yet finalised. Like Platypus, the Ovato packaging business is folding carton focused.
Ovato’s packaging business was a minor part of the Ovato business with less than 10 per cent of revenue, but still a significant size. PepsiCo is one of its clients.
Lusch said, “The Ovato packaging business is a good business that has had the challenge of being a small business unit within a much larger business. The business purchase decision was favourable, due to the business having some good equipment and customers in industries where we have less of a presence.”
The Ovato production equipment, based at the Brisbane plant, will be moved and integrated into the Platypus plant at Geebung over Christmas and the New Year period. This includes selected operational kit, and equipment which can be easily repaired.
Platypus already runs a pair of Koenig & Bauer B1 presses, the latest a six-colour Rapida 106X with UV coater installed four months ago, as part of an investment programme that also included a new folder gluer and a new laminating line.
The company was established by Tom Lusch 40 years ago as a trade printer, and made its move into packaging in 1999 with the acquisition of McNiven’s Packaging. Today, folding carton represents the majority of the company’s work.
Ovato went into administration four months ago, with the heatset side of the business bought by IVE. Its non-core businesses including books, distribution and marketing services were all sold off before the business called in the administrators.
