Knoxcorp to buy Pro-Pac’s Australian and New Zealand operations

Core Insights - Knoxcorp has acquired Pro-Pac Packaging's Australian and New Zealand businesses from McGrathNicol Restructuring, with the transaction expected to complete by early March 2026 for Australia and by January 30, 2026, for New Zealand [1][2]. Group 1: Acquisition Details - The acquisition includes the Australian operations and assets, excluding the Perfection Packaging unit, which is winding down with closure scheduled for next month [1][2]. - The buyer for the Australian operations is Consolidated Packaging Australia, a subsidiary of Knoxcorp, while the New Zealand operations will be handled by Consolidated Packaging Limited, another subsidiary of Knoxcorp [1][2]. Group 2: Company Background - Knoxcorp, headquartered in Brisbane and founded by Jim Knox, has investments in operating businesses and property developments, previously owning Cospak, a packaging company sold in 2009 [3]. - The sale proceeds from Pro-Pac Packaging are not expected to generate a return for shareholders, as stated by McGrathNicol [3]. Group 3: Statements from Key Individuals - Rob Smith, a partner at McGrathNicol, expressed satisfaction with the sale, highlighting it as a positive outcome for Pro-Pac's customers, suppliers, and employees [4]. - Jim Knox stated the company is delighted with the acquisition and plans to invest significantly in machinery to enhance local manufacturing, which is crucial for customer supply chains [4].