Saturday, June 22, 2024

Pact Group completes acquisition of Flight Plastics

Pact Group has acquired New Zealand’s only packaging manufacturer with integrated PET recycling capability.

The acquisition of Flight is part of Pact’s plan to lead the circular economy through reuse, recycling and packaging solutions.

It will allow the company to provide customer’s packaging containing food grade recycled content, which supports the New Zealand local circular economy.

Flight has the capability to process more than 5000 tonnes of recycled PET.

“We are investing across our platform to develop the recycling capability our customers will need to deliver their 2025 sustainability commitments,” says Managing Director and CEO of Pact, Sanjay Dayal.

“Our target is 30% recycled content across our portfolio, which means we will need more than 60,000 tonnes of recycling capacity by 2025.”

Customers are increasingly demanding sustainable packaging; therefore, this acquisition will significantly enhance Pact’s offering.

“We have capability not only to recycle plastics, but also to create demand for recycled materials through innovative packaging design and manufacture,” says Mr Dayal.

“We welcome the highly talented and committed Flight team to Pact. We are excited by the opportunity to leverage our combined strengths in leading change and growing the circular economy.”

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