Corrs Chambers Westgarth has advised Pact Group Holdings Ltd (Pact) on its acquisition of speciality contract manufacturer, Pascoe’s Group (Pascoe’s), for A$41 million initial payment together with an earn-out component to the consideration.
The acquisition price represents a multiple of 6.5 times EBITDA.
Pact is Australasia’s largest manufacturer of rigid plastics packaging with operations throughout Australia, New Zealand and a growing footprint in Asia. Its acquisition of Pascoe’s further expands Pact’s investment in specialised contract manufacturing following the recent acquisitions of Jalco and Australian Pharmaceutical Manufacturers.
The Corrs team was led by Partner Gaynor Tracey, and supported by Senior Associate Madeleine Kulakauskas, Associate Claire Cahill, Lawyer Hannah Cooper, and Graduate Lawyer Ananya Mittra.
“This is an exciting period of growth for Pact and we are delighted to have been able to support them on this strategic investment which further expands Pact’s contract manufacturing offering,” said Corrs Partner Gaynor Tracey.