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Flexo print operation Supreme Packaging has been bought by Pro-Pac for $3.2m, with the company expected to deliver revenue of between $10m and $12m in the next financial year.

The Clayton-based company with 50 staff runs an eight-colour wide web flexo print system. It also operates slitting, bag-making and miro-perforation systems. It has in-house prepress and design.

Its main markets were core Pro-Pac verticals of food, beverage and produce.

Pro-Pac says the acquisition is consistent with its strategy of growth through accretive acquisitions in existing and adjacent market segments.

Supreme Packaging has been supplying printed and plain packaging, all Australian manufactured, to a wide range of industries and companies since 1980, when it was founded.

Supreme Packaging: Established in 1980
Supreme Packaging: Established in 1980

 

Food & Drink Business

Western Australian producer, Brownes Dairy, has been put up for sale according to the Australian Financial Review (AFR), as one of its biggest lenders, China Mengniu Dairy, calls in its $200 million loan. A reduced demand for milk in China and the current positioning of the global market could be driving the decision.

The Central Coast is about to receive a boost to its local food and beverage manufacturing industry, with construction starting on the $17.14 million Food Manufacturing Innovation Hub, funded by the federal government’s National Reconstruction Fund (NFR).

The Australian Industry Group (Ai Group) says Australia is at a “critical crossroads” when it comes to R&D and decades of rhetoric have not delivered material change.