Plasdene Glass-Pak, a privately-owned, leading supplier of glass and plastic bottles, jars, containers and closures today announced the acquisition of West Australian-based Silverlock Packaging in a transaction that expands the national company’s geographic coverage, product offering and team of packaging-solution salesforce. The merged entity will increase the size of Plasdene Glass-Pak by more than fifty percent, making it arguably the largest independent, family-owned packaging distribution business in Australia.
Whilst Plasdene Glass-Pak already has a national footprint with 7 branches across Australia, the acquisition of independently-owned Silverlock packaging will greatly enhance the size and performance of Plasdene Glass-Pak in South Australia and Western Australian markets. In addition to complementary product type portfolios, markets served and capabilities, both are family-businesses with similar cultures and service-focused enterprise philosophies. Plasdene and Silverlock also both provide contractual distribution for glass manufacturer O-I and plastic packaging PACT Group companies, amongst others.
Silverlock Packaging was founded in 1976 by Ray Silverlock, and following his passing, the business remained within the family, owned by his daughter Tundra and son-in-law Bernie Pickett.
Similarly, Plasdene Glass-Pak was established by current Managing Director Ken Pearson in 1987, with one employee and zero sales. Today Plasdene remains a private entity, owned by the Pearson family, with first and second generation family management in the business. The merged entity will fall under the umbrella of Pearson Group Packaging (PG-P).
Already supplying hundreds of millions of glass and plastic bottles, jars, containers and closures annually with a sophisticated and robust global sourcing agenda, a merged entity will further enhance the buying power and supply chain capability of Plasdene Glass-Pak, affording both Silverlock and Plasdene customers greater value, enhanced range and stronger supply partnerships.
As the last player to the enter the packaging distribution market in South Australia and Western Australia, until now Plasdene Glass-Pak has failed to shake the ‘new kid on the block’ image and reach the sales potential performance of its eastern state branches. “Whilst we’ve had a distribution centre in Perth for more than ten years (and Adelaide even longer), it has certainly been challenging to penetrate and grow the business in these regions to the proportions expected, such is the strength of the well-established market presence of Silverlock and others. We are delighted we now have the means to merge these two wholly-Australian family businesses, and grow together”, says Pearson.
“We truly are a one-stop-shop for packaging, with our current range exceeding more than 6,000 line items, and over 250 global supply partners. With similar business models, many of the same or complementary manufacturers, clients and product range, as well as a like-minded approach to personal service, this strategic purchase makes sense,” says PG-P Managing Director Ken Pearson. “We are delighted to take on this new challenge, and our team are working hard to provide a seamless transition,” says Pearson.
Plasdene Glass-Pak’s last acquisition was in May 2011, when the company purchased NSW-based wine bottle distribution business J.McCarthy.