The acquisition of Flight Plastics represents a key step in Pact Group’s strategy to advance the circular economy
Rigid plastic packaging products provider Pact Group has completed the acquisition of plastics and packaging solutions provider Flight Plastics for an undisclosed sum.
Flight Plastics, which offers packaging solutions for the fresh food segment, is claimed to be only New Zealand’s packaging manufacturer with integrated PET recycling capability.
Flight Plastics has the potential to process more than 5,000 tonnes of recycled PET.
The company manufactures a range of standard food-grade thermoformed plastic containers and trays for fruit, produce, bakery, meat and seafood packaging. It also offers a range of horticulture pots and trays.
Flight Plastics has expertise in extruding polyolefin and styrenic based resins into rigid plastic sheet applications.
The acquisition of Flight Plastics is a significant step in Pact’s strategy to boost the circular economy through reuse, recycling, and packaging solutions.
Flight Plastics will also complement and improve Pact’s capabilities in recycling in Australia and New Zealand, as well as allows the company to offer customers packaging containing food-grade recycled content that supports the New Zealand local circular economy.
Flight Plastics will also significantly boost Pact’s offering to customers in the fresh food segment in both New Zealand and Australia.
Pact managing director and CEO Sanjay Dayal said: “We have a Vision to lead the circular economy. The acquisition of Flight is strongly aligned to our strategy.
“We are investing across our platform to develop the recycling capability our customers will need to deliver their 2025 sustainability commitments.
“Our target is 30% recycled content across our portfolio, which means we will need more than 60,000 tonnes of recycling capacity by 2025.”