A New Zealand flexible-packaging specialist company has bought Caringbah-based Australian Packaging so it can expand its manufacturing facilities on both sides of the Tasman.
The Wellington company is Gravure Packaging.
Managing director Greg Chapman said Australian Packaging staff would keep their jobs.
Mr Chapman said the flexographic printing (using a flexible relief-plate), lamination without solvent, and perforation processes offered by Australian Packaging would strengthen and complement the gravure expertise of his company.
"The acquisition will provide an opportunity to cross-sell on both sides of the Tasman and opens up new technology and innovation for current and future customers of both companies." he said.
Australian Packaging, founded by Ray Cranfield in 1981, has evolved from a small cellophane bag manufacturer to a major force in Australia and the Pacific.
Co-director Dianne Anderson has been with the company for 20 years.
Australian Packaging's two previous directors will be retained for at least 12 months.
The Caringbah business will keep its trading name.