KEY POINTS:
Investment company Hellaby Holdings' subsidiary Elldex Packaging will buy Wellington-based manufacturer and importer of plastic packaging PPL Corporation.
PPL specialise in the supply of low-density plastic packaging materials for the meat, horticultural, timber and retail sectors.
Hellaby chief executive John Williamson said that PPL's core business of low density polyethylene packaging fitted with the existing Elldex product range and would complement Elldex Packaging.
"The PPL business has a strong position in key niche categories in the New Zealand packaging sector. We believe we can continue to grow PPL as part of a wider Hellaby packaging business," he said.
