Thrace Plastics Group has announced the acquisition of Australia’s BHA Holdings for $23.3 million (near €14.0 million).
BHA Holdings operates across Australia and New Zealand’s packaging sector. BHA Holdings has over 40 years of experience in local markets, serving the packaging needs of key sectors such as agriculture, mining, chemicals, and food.
Thrace Plastics Holding and Commercial Societe Anonyme, formerly Thrace Plastics Co SA, is a Greece-owned and based company engaged in the production and trade of plastic products, textiles and packaging materials. The company operates through its local and international subsidiaries.
The acquisition is strategically significant for Thrace Plastics Group as it involves a company operating in the bulk bags (FIBC) sector, where Thrace Plastics already has a strong presence in Europe, including a local presence in Ireland, Scandinavia, and Greece.
Bringing BHA Holdings into Thrace Plastics is expected to create strong synergies with its existing products and sales network, while improving its ability to offer more complete solutions in local markets.
The deal strengthens the Thrace Plastics’ position in the bulk bags sector and expands both its geographic reach and overall production and commercial capabilities.
The agreement is also expected to drive sales growth for both BHA’s existing operations and Thrace Plastics’ wider product range in Australia and New Zealand.
In addition, the opposite seasonal cycles in these markets compared to Europe should help maintain steady commercial activity and improve year-round use of the Thrace Plastics’ production capacity.
Source: Naftemporiki
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