Pro-Pac Packaging (PPG) is a well-established provider of packaging solutions, supplying and manufacturing flexible and industrial packaging for the retail, logistics, food, and FMCG sectors. The company’s high-quality wraps and films are widely used across Canada, Australia, and New Zealand, delivering safe, reliable, and responsible packaging solutions.
Pro-Pac also offers customized packaging solutions and a wide range of value-added products, including polybags, cartons, PPE, labels, and tapes. Meanwhile, Consolidated Packaging Australia Pty Ltd, a Knoxcorp division, is a privately owned Australian investment company led by prominent businessman Jim Knox and is well known for its strategic acquisition activity.
Pro-Pac signed a business sale agreement and handed it over to Consolidated Packaging Australia. Pro-Pac is currently facing financial issues, due to which the company decided to sell its business in good value. Still, nothing is over for the company as the idea, innovation, and its dedication throughout the years of hardship remain in the hands of the same smart minds. Following, those minds will continue to introduce the best of their experience to Consolidated Packaging Australia.
Further, ASX’s administrator, McGrath, confirmed this news, pointing out that Pro-Pac’s assets and business were not sold out to us, but not their Perfection Packaging business yet. The New Zealand PPG business sale will be done by this month.
McGrath Nichol said, “Both acquisitions are made under a certain concern state that enabled the transfer of all existing employees except the Perfection Packaging one. Administrators have pointed out that the transactions decided are not enough to offer a return to shareholders.”
Knox said, “Company is all set to re-establish the PPG business and deliver innovation to its customers, as local manufacturing is important to the customers’ supply chains. Further, we’ll make a meaningful investment in machinery to serve our intensified value proposition.”
This Pro-Pac business sale might be a very tough decision, but it secured the employees' future. Like no other company, Pro-Pac made a tough decision, keeping a big heart for its valuable employees. Maybe Pro-Pac will take a new ship to sail on the same ocean of the vast packaging sector with some new ideas and stronger than ever before.
This unfavorable choice may lead to new options. The bankruptcy and financial distress is a phase that will make Pro-Pac smart and aware of its previous crucial performances, and a time to assess what actually went wrong.
23 January 2026
23 January 2026
23 January 2026
23 January 2026