Pact Group and global infrastructure investment manager Morrison & Co have completed the sale of a 50 percent stake in Pact’s Crate Pooling business to Morrison on behalf of its investors to form a new 50-50 joint venture that will scale up Trans-Tasman reusable packaging crates operations.
The new business has been rebranded as Viscount Reuse, which will operate as an independent entity and focus on expanding its capabilities and accelerating growth opportunities in Australia and New Zealand.
Viscount Reuse manages an asset pool of reusable and recyclable plastic packaging crates, with contracts in place with grocery groups such as Woolworths, ALDI Australia and Foodstuffs in New Zealand. The business also manufactures and supplies crates, bins and megabins for use in the fresh food and automated supply chain.
Earlier this month, the business opened a new service facility in Auckland, New Zealand, enhancing its network of wash and distribution facilities