Global packaging leader TricorBraun announced today that it has entered into an 
agreement to acquire PB Packaging ("PB"), a wholly-owned business of Pro-Pac 
Packaging Limited (ASX: PPG) ("Pro-Pac"), expanding its presence in Australia.

Logo - https://mma.prnewswire.com/media/343926/tricorbraun_logo.jpg  

One of Australia's leading providers of plastic and glass packaging, PB is a 
one-stop shop for rigid packaging needs, serving customers in the health, 
industrial, food, and automotive industries.

"We are excited to grow our business in Australia, offering customers expanded 
solutions and supply chain options," said Court Carruthers, president and CEO, 
TricorBraun. "The PB Packaging team's dedication to innovation, quality, and 
exceptional customer service make them an ideal fit. We are pleased to welcome 
PB Packaging to the TricorBraun family, and we look forward to investing in its 
continued growth."

TricorBraun established its footprint in the region with its acquisition of 
Cormack Packaging in September 2021.

PB's current leadership team will join TricorBraun and all 140 PB team members 
will be offered positions with the company. Effective with the closing of the 
transaction, PB will operate as PB Packaging, a TricorBraun company. The 
company will continue to operate as a stand-alone business.

"We are delighted that TricorBraun will acquire PB and that all Rigid team 
members will be offered positions with TricorBraun," said Tim Welsh, CEO and 
managing director, Pro-Pac. "TricorBraun is a natural home for the PB business, 
and we look forward to completing the transaction expeditiously."

"Over the last 32 years, we've solidified our reputation as one of the most 
respected distributors of packaging materials and services in Australia," said 
Andrew Allsop, executive general manager, PB Packaging. We look forward to 
continuing our service to customers, with TricorBraun's support, resources, and 
investments in our growth." 

Since its founding, TricorBraun has partnered with management teams to 
successfully acquire and further accelerate growth for 34 packaging companies 
globally.

The transaction is expected to close in the second quarter of 2022, subject to 
the Australian Foreign Investment Review Board approval and satisfaction of 
other customary completion conditions.

About PB Packaging
PB Packaging is the Rigid division of the Pro-Pac Group (PPG) of companies, one 
of Australia's largest publicly listed packaging companies. Established in 
1990, PB Packaging has continuously evolved to meet the varying and diverse 
needs of its customers, offering a comprehensive product range of 
locally-moulded and imported products.

About Pro-Pac Packaging
Pro-Pac Packaging Limited (ASX: PPG) is an innovative Flexibles, Industrial 
Specialty Packaging and Rigid packaging company with a diversified distribution 
and manufacturing network throughout Australia and New Zealand. Headquartered 
in Melbourne, Pro-Pac delivers bespoke packaging solutions for a broad group of 
blue-chip and SME clients in the industrial, food and beverage, health, 
agriculture and manufacturing sectors.  For further information, please visit 
www.ppgaust.com.au.

About TricorBraun
Founded in 1902, TricorBraun ( 
https://c212.net/c/link/?t=0&l=en&o=3500817-1&h=3489966246&u=https%3A%2F%2Fwww.tricorbraun.com%2F&a=TricorBraun 
) is a global packaging leader and North America's largest distributor of 
primary packaging. We provide innovative solutions across a wide array of 
customer end markets in plastic, glass, and aluminum containers, closures, 
dispensers, tubes, and flexibles. Our award-winning Design & Engineering Center 
provides forward-thinking design, driven by consumer insight and creative 
solutions. We leverage our global supply chain expertise, expansive and 
sustainable footprint, and unmatched purchasing power to identify the best 
sourcing partners and cost-effective solutions for our customers. TricorBraun 
is comprised of more than 1,700 packaging professionals operating from more 
than 75 locations across the Americas, Europe, Asia, and Australia.

SOURCE:  TricorBraun

CONTACT: Jennifer Frighetto, jfrighetto@tricorbraun.com, +1-847-702-5304