6 Feb 2011

Clearance given for takeover of packaging company

8:15 am on 6 February 2011

The Commerce Commission has granted clearance for Sonoco New Zealand Limited to acquire the business assets of TTL Pacific.

TTL Pacific makes similar cylindrical packaging products to Sonoco.Its sole manufacturing plant is in Auckland.

Sonoco has three manufacturing plants, located in Auckland, Kawerau and Christchurch.

The commission says it's satisfied any merger will not reduce competition in the market.