Spicers NZ has finalised a share sale agreement with Mathew Goudie, Jed Goudie, and Matthew Goddin, who were the owners of Universal Packaging Limited (UPL) — specialists in pallet wrapping — with UPL now part of Spicers NZ.
The businesses are set to operate independently, with a “business as usual” situation for customers and suppliers in the short-term.
UPL was established in 1985 and operates as a supplier of pallet wrapping film, machinery, application and optimisation. The company is based in Palmerston North, with a New Zealand wide customer base.
Spicers NZ industrial manager Morgan John told ProPack.pro that he sees a clear strategic advantage with the acquisition.
“Industrial packaging has been a diversification focus for Spicers NZ, we have seen strong organic growth however adding Universal Packaging gives us greater scale and the two businesses product ranges complement each other,” he said.
As for why Universal Packaging was the right business to combine forces with, John said, “Both teams are very similar in their approach and values. Universal Packaging have a specific and tailored approach to market that aligned with Spicers NZ’s vision.
“The two product ranges complement each other and collectively give us a greater offering to market in the segments we want to focus on.”
As for how it will affect Spicers NZ customers, John said, “We can only see positives, larger product range, more locations and a larger team to service their needs”.
In a statement, Spicers NZ noted that industrial packaging is a key focus, and growth area in recent years.
“Furthermore, we now have a footprint in Palmerston North to offer our customers in the wider region all products in our NZ stable,” it added.
“We expect Spicers NZ and UPL can bring operational benefits to our customers in the short term as well as broadening each other’s product offering by sharing portfolios for our customers benefit. Over the next six months we will forge further plans on how the businesses work closer together.”
In a statement, Universal Packaging said, “Now rubbing shoulders with well-regarded brands such as Total Supply and CPS, who are also in the Spicers group, Universal Packaging is on a bigger stage than ever before.
“While this is certainly a big step (and one worth celebrating), for our customers and suppliers, little will change in either the short or medium term. Both companies are committed to ensuring the standard of service only continues to rise. Both will continue to operate independently. Both are working with a ‘business as usual’ approach.”