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Pact Group in talks to buy Jalco

Posted by on 06/06/2019

Two makers of products found in almost all Australian kitchens and bathrooms are considering a takeover.

深圳桑拿网

Packaging manufacturer Pact Group has confirmed ongoing speculation it is in talks to buy consumer goods maker Jalco, which is chaired by Barry Smorgon, a member of one of Australia’s wealthiest families.

“However, Pact confirms that it has not entered into an agreement to acquire Jalco, nor is there any certainty that it will acquire Jalco,” Pact said in a statement on Tuesday.

Sydney-based Jalco manufacturers products ranging from washing powders to shampoo, sunscreen, automotive fluids, plastic bottles and diet supplements, for some of the world’s biggest brands.

Those brands include Unilever, Alberto Culver, Avon and Colgate.

Melbourne-based Pact makes a huge range of plastic packaging for products found in many homes, for clients including Woolworths, Coles, Schweppes and Unilever, and also recycles plastics.

Jalco was put up for sale in 2014 and has been in talks with Pact for several months, according to media reports.

Mr Smorgon, a member of the billionaire Smorgan family, became executive chairman in 1996.

He was previously a director and executive of Smorgan Consolidated Industries, one of Australia’s largest private companies.

Pact has 62 manufacturing plants across Australia, New Zealand and Asia, with more than 3,500 employees.

It is chaired by Raphael Geminder, who founded the company in 2002. Prior to that, Mr Geminder was the co-founder and chairman of Visy Recycling.

He is married to Fiona Geminder, the youngest daughter of late packaging tycoon and Visy Group chairman Richard Pratt.

Pact listed on the Australian share market in December 2013, and made a profit of $41.8 million in the first half of the current financial year.

Shares in Pact were up one cent at $4.22 at 1410 AEST.

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