find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Pascoe’s sale wraps up

Pascoe’s sale wraps up

The deal has been sealed for the multimillion-dollar purchase of Pascoe’s Group by a plastics packaging company.

Firms: Corrs Chambers Westgarth (Pact Group Holdings Ltd); Undisclosed (Pascoe’s Group)

Deal: Pact Group Holdings (Pact) has acquired Pascoe’s Group (Pascoe’s).

Value: $41 million

Area: M&A

Key players: The Corrs team advising Pact was led by partner Gaynor Tracey. Senior associate Madeleine Kulakauskas, associate Claire Cahill, solicitor Hannah Cooper, and graduate Ananya Mittra also assisted on the deal.

Deal significance: The sale of Pascoe’s for $41 million represents a multiple of 6.5 times earnings before interest, tax, depreciation and amortisation (EBITDA).

Purchaser Pact is one of Australasia’s biggest manufacturers of rigid plastics packaging. Pact has acquired Pascoe's for the initial multimillion-dollar sum, plus an earn out component to the consideration.

According to a statement released by Corrs, who advised Pact on its acquisition, this latest investment follows other acquisitions by the group in the manufacturing space.

“[This deal] further expands Pact’s investment in specialised contract manufacturing, following the recent acquisitions of Jalco and Australian Pharmaceutical Manufacturers,” Corrs said.

Lead partner Gaynor Tracey reiterated the significance of the deal as a strategic investment for Pact Group.

“This is an exciting period of growth for Pact, and we are delighted to have been able to support them on this strategic investment which further expands Pact’s contract manufacturing offering,” Ms Tracey said.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Pascoe’s sale wraps up
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Dec 15 2017
Timing ‘critical’ in unusual contempt of court ruling
A recent case could have interesting implications for contempt of court rulings, according to a Ferr...
Dec 14 2017
International arbitration and business culture
Promoted by Maxwell Chambers. This article discusses the impact of international arbitration on t...
Papua New Guinea flag
Dec 14 2017
World-first mining case launched in PNG
Citizens of Papua New Guinea have launched landmark legal proceedings against the country’s govern...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...