Colorpak is a family-owned business which supplies predominantly short-run, folding carton packaging for some of the best-known brands in the pharmaceuticals, healthcare, cosmetics, confectionary and other consumer goods sectors.

This sector of the packaging industry in Australia is valued at $600 million per annum and growing. Colorpak has annual sales around $50 million. Some of its customers in the pharmaceuticals and healthcare sectors include Bayer, CSL, Sigma, Pfizer and Astra Zeneca. It also provides packaging for iconic consumer goods brands such as Gillette, L’Oreal, Cussons, Nestlé and Patties.

Headquartered in Melbourne, Colorpak has operations in Melbourne and Sydney. The company is a member of the Global Packaging Alliance (GPA), an affiliation which gives it access to international customers and global brands, and to emerging trends and technologies. Acquired by Walter Commins in 1985, the company is now managed by his three sons, Alex, Paul and Harry.

Colorpak’s Chairman, Mr Geoff Willis, said the prospectus offer will raise $25 million through an offer of 50 million shares at $0.50 per share. After the Initial Public Offer (IPO), there will be 77.2 million shares issued and the company will have a market capitalisation of $38.6 million.

Of the $25 million to be raised, $22 million is to be paid to interests associated with the Commins family. The balance is to be retained by the company. The Commins family has said it will retain a significant investment in Colorpak for the foreseeable future and are totally committed to its long-term growth.

“We plan to expand the business through organic growth and acquisition. Since the Commins family acquired the business in 1985, Colorpak has had a compound annual revenue growth rate of 21.5% and therefore we are confident of being able to build on this very strong base,” said Mr. Willis.

The company’s Managing Director, Alex Commins, said: “Over the past four years, Colorpak has been rated number one in the folding cartons sector of the BIS Shrapnel survey for customer satisfaction on key performance indicators relating to quality and value. This track record positions us well for the future.”

“We are delighted to have attracted high quality directors with a broad range of skills to our board, including Geoff Willis, a former senior Amcor executive. This board, our long-standing executive team, and loyal employees are exceptional assets on which to build our future,” said Mr. Commins.

Colorpak’s board of directors comprises: Geoff Willis (non-executive Chairman), Alex Commins (Managing Director), Paul Commins (Executive Director), David Heaney (non-executive Director) and Tony Dynon (non-executive Director).

For more information about Colorpak Packaging, contact Alex Commins at (03) 9586 4720 or visit the website at www.colorpak.com.au.