Orora Limited acquires Texas-based packaging distributor Bronco Packaging Corporation (Bronco) for a total consideration of up to $24 million as part of the continued growth of the Orora Packaging Solutions (OPS) business in North America.
Bronco is a family-owned business, located in Dallas, Texas and employs approximately 30 co-workers. Existing management will continue to lead the business for a period of at least three years, ensuring a smooth transition to new ownership.
Commenting on the acquisition, Orora Managing Director and CEO, Mr Nigel Garrard, said: “The acquisition of Bronco aligns with Orora’s stated returns focussed approach to allocating capital and will expand OPS’s geographic footprint and product capability in the targeted, higher growth food sector.”
“Importantly, Bronco and OPS are already well known to each other and this will assist the integration of the two businesses as well as the achievement of expected synergies in procurement, supply chain and back office functions over the next 1-2 years,” Mr Garrard said.
