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Catalyst could sell Aperio for $256m by February

  • Susannah Birkwood
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Catalyst Investment Managers could complete the sale of its packaging business Aperio Group to a trade buyer by February, according to a source.

A person cited by Deal Journal Australia said a deal is imminent with fellow packaging firm Pact Group, which has submitted a bid at the lower end of the A$250-300 million ($256-305 million) price range.

Aperio was formed in May 2005, through Catalyst's A$75.16 million buyout of AEP Industries' Australian and New Zealand businesses (AEP Australasia) in conjunction with managing director Peter Sutton. The company operates in the segments of biscuits, beverages, confectionery, pet food, personal hygiene and agriculture, with 12 flexible packaging factories across Australia, New Zealand and Thailand.

Greenhill Caliburn is managing the auction on behalf of Aperio, which has also received an offer from metal, plastic and paper packager Amcor. The Australian Competition and Consumer Commission is currently reviewing this proposal, and will announce its decision on February 9th.

Aperio is not the only firm Catalyst has on the block at present. It has also hired Ernst & Young to run the sale of Sydney-based potato distribution business Moraitis, which it has held alongside the founding family since May 2006.

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