# TricorBraun to acquire Australia's PB Packaging from Pro-Pac Packaging

TricorBraun agreed to acquire PB Packaging, a wholly owned subsidiary of ASX-listed Pro-Pac Packaging, expanding its presence in Australia. PB has 140 team members and the deal is expected to close in Q2 2022, subject to Foreign Investment Review Board approval.

- Type: Acquisition
- Announced: 2022-04-10
- Where: Australia, Australia
- Value: $41.0M (56.0M AUD)
- Jobs: 140
- Status: announced
- Products: plastic packaging, glass packaging, rigid packaging
- Sectors: [Packaging](https://endata.com/sectors/packaging.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [TricorBraun Holdings](https://endata.com/companies/470.md) (acquirer)
- [Pro-Pac Packaging](https://endata.com/companies/2039.md) (partner)
- [PB Packaging](https://endata.com/companies/9126.md) (target)

## Sources

- [tricorbraun.com](https://www.tricorbraun.com/04102022-tricorbraun-to-acquire-pb-packaging), 2022-04-10: "TricorBraun announced today that it has entered into an agreement to acquire PB Packaging (“PB”), a wholly-owned subsidiary of Pro-Pac Packaging Limited (ASX: PPG)."
- [packagingnews.com.au](https://www.packagingnews.com.au/latest/pro-pac-to-exit-rigids-with-56m-sale-to-tricorbraun), 2022-04-11: "Pro-Pac Packaging (PPG) is selling its PB Packaging rigids business to US giant TricorBraun for $56m."
- [privateequityinternational.com](https://www.privateequityinternational.com/pe-backed-tricorbraun-to-buy-pb-packaging/), 2022-04-11: "TricorBraun has agreed to acquire PB Packaging, a plastic and glass packaging affiliate of Australia's Pro-Pac Packaging."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.