Australian investment company Knoxcorp has acquired Pro-Pac Packaging's Australian and New Zealand (NZ) businesses from administrator McGrathNicol Restructuring.

For Australia, the administrators have signed a business sale agreement covering the Australian operations and assets, but excluding the Perfection Packaging unit.

The buyer is Consolidated Packaging Australia, a Knoxcorp subsidiary.  

The transaction is expected to be completed in early March 2026.

Based in Dandenong, Victoria, Perfection Packaging is in the process of winding down, with closure scheduled for next month.

In New Zealand, a separate business sale agreement has been signed for the local business and assets with Consolidated Packaging Limited, Knoxcorp’s New Zealand subsidiary.

Completion is expected by 30 January 2026.

The deals include the transfer of employment for existing staff, other than employees in the Perfection Packaging business.

Headquartered in Brisbane and was founded by Jim Knox, Knoxcorp holds investments across operating businesses and property developments.

Knox previously owned and ran Cospak, a packaging company active in both Australia and New Zealand, before it was sold to San Miguel Yamamura Packaging in 2009.

McGrathNicol said the sale proceeds are not expected to generate a return for shareholders.

McGrathNicol partner and administrator Rob Smith said: “We are pleased to announce the sale of both PPG’s Australian and New Zealand continuing businesses, which represents a positive outcome for PPG’s customers, suppliers and employees.”

Knox said: “We are delighted with the acquisition of PPG. We look forward to further developing the business and continuing to serve its loyal customers. Local manufacturing remains essential to its customers’ supply chains and we will make significant investments in machinery to deliver on our core value proposition.”