TricorBraun To Acquire PB Packaging
(RTTNews) - TricorBraun said that it agreed to acquire PB Packaging, a wholly-owned business of Pro-Pac Packaging Limited (PPG.AX), expanding its presence in Australia.
PB is one of Australia's leading providers of plastic and glass packaging.
TricorBraun established its footprint in the region with its acquisition of Cormack Packaging in September 2021.
PB's current leadership team will join TricorBraun and all 140 PB team members will be offered positions with the company. Effective with the closing of the transaction, PB will operate as PB Packaging, a TricorBraun company. The company will continue to operate as a stand-alone business.
The transaction is expected to close in the second quarter of 2022.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.