The newly merged Close The Loop has acquired Queensland-based seafood packaging operation Oceania Agencies, to boost its offering to the aquaculture market.
O F Packaging, now part of the Close The Loop Group, is already a major player in seafood packaging, here and in overseas markets, and says the Oceania acquisition will bring complementary solutions to the business.
Joe Foster, CEO of Close the Loop, said, “We will continue to run Oceania Agencies as a stand-alone business under its own brand, and will leverage the capabilities of both companies into each other.”
O F Packaging has a large customer base of seafood producers around the world, with a major manufacturing site in South Africa under its Foster International brand.
Foster said, “We have a lot of seafood customers, and expect the market to grow. Oceania has some different products to us. It is a market we know well.”
Based just outside Noosa in Queensland, Oceania Agencies will remain in its current location, with its current staff, apart from the owners, who are now retiring.
Foster said, “Retaining the brand will keep it focused.”