Thrace Plastics Group has announced the acquisition of Australia’s BHA Holdings Pty Ltd (Bulk Handling Australia), for $23.3 million (near €14.0 million).
BHA Holdings operates across Australia and New Zealand’s packaging sector has maintained a presence for over 40 years in local markets, serving the packaging needs of key sectors such as agriculture, mining, chemicals, and food.
Thrace Group 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 CEO of Thrace Group, Mr. D. Malamos, stated, “We welcome the people of BHA Holdings to Thrace Group. This is an acquisition with clear strategic value, as it involves a company with related operations and a strong position in the markets in which it operates.
“The addition of BHA Holdings significantly enhances our capabilities, creates meaningful synergies with our existing operations, and expands our international footprint. At the same time, it gives us the opportunity to further strengthen our presence in a sector where we already have a strong commercial and production presence in Europe, now expanding into the markets of Australia and New Zealand.”
The acquisition is strategically significant for Thrace Group as it involves a company operating in the bulk bags (FIBC) sector, where Thrace Group already holds a strong presence in the European market, including a local presence in Ireland, Scandinavia, and Greece.
Bringing BHA Holdings into Thrace Group is expected to create significant synergies with its existing products and commercial activities, while improving its ability to offer more comprehensive solutions to local markets.
The General Manager of BHA Holdings Pty Ltd, Raymond Purcell said, “Our integration into Thrace Group marks a new era for our company. We are particularly pleased to become part of a strong international Group with a long-term vision, significant expertise, and a strong presence in international markets.
“We believe that this partnership will create new growth opportunities and further enhance the value we offer to our customers.”
The deal strengthens the Thrace Group’s already strong position position in the FIBC/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 Group’s wider product portfolio in the markets of 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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