Pacific Equity Partners Acquires NZ Packaging Co.

12 September 2000

Pacific Equity Partners Acquires New Zealand’s
Leading Rigid Plastics Packaging Company

Pacific Equity Partners announced today that it has signed an agreement to purchase the New Zealand plastics packaging division of New Zealand company Carter Holt Harvey Limited effective on 2 October.

The division, to be renamed Vertex, is the leading supplier of rigid plastics packaging products in New Zealand. Vertex serves a well-diversified portfolio of independent customers across a wide range of products and market segments.

Pacific Equity Partners Managing Director Rickard Gardell said the company is very excited to be partnering the excellent management team at Vertex.

“We are extremely impressed by the company’s high calibre people and technology. We believe Vertex is the ideal growth platform from which to expand domestically and internationally.

“With PEP’s strong financial backing and our commitment to the company’s growth and further development, Vertex will soon be a force to be reckoned with in the broader packaging market,” said Mr Gardell.

Vertex Managing Director Paddy Boyle said the management team was very excited by the opportunity to grow the business through partnership with PEP.

“The partnership with Pacific Equity Partners provides us with a tremendous strategic resource, strong financial backing, and the opportunity to further grow our business in New Zealand, Australia, and beyond.”

Other high profile New Zealand companies which Pacific Equity Partners has successfully supported include leading beverage company Frucor Beverages Group. Frucor, in partnership with Pacific Equity Partners, has grown from a domestic fruit juice company to a world class beverage company with a significant international market presence. Frucor recently listed on both the NZSE and ASX.

About Pacific Equity Partners

Pacific Equity Partners, one of the largest investors of its kind in Australia and New Zealand, provides capital to support exceptional management teams in growing their businesses. Pacific Equity Partners invests in opportunities where its expertise, capital resources and understanding of financial structuring enable it to support management teams in improving operating performance and creating value.

Established in 1998, the firm invests in management buyouts, industry consolidations, divestitures, late-stage venture capital opportunities and other complex merchant-banking situations, in relation to companies whose principal place of business or operations is in Australia or New Zealand.

ENDS

For further information:
Rickard Gardell
Pacific Equity Partners
Tel: 00612 9229 1400
Mob: 0061 412 020 750

© Scoop Media