IVE CEO Matt Aitken has confirmed that he will pursue a ‘growth mindset’ either ‘organically or by acquisition’ towards the folding cartons space following the recent JacPak purchase.

IVE confirmed the acquisition of Melbourne-based JacPak in October 2023 for $35 million.

“We are in a growth mindset towards the folding carton sector, and this can happen organically or through acquisition,” Aitken told ProPack.  

“If you go back through our investor communications, you will see it is a complementary adjacency for our business, and It is also a growth sector with strong ESG credentials,” he said. 

Aitken said the early results from the JacPak acquisition were “encouraging”. 

 JacPak is a leading Melbourne based short to medium run length packaging player in the $800 million folding cartons segment of the Australian packaging sector.

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