Oceanic Agencies sold to O F Packaging

Following a period of strong growth in the business, the owners of Oceanic Agencies were seeking an incoming owner to take the business forward as they transition out of the industry.

The successful bidder was O F Packaging, part of Close the Loop Group (ASX: CLG) – a national industry player of substantial scale.

The transaction was structured to progressively achieve their mutual requirements and a smooth transition from a standalone business to part of a publicly listed company.

About Oceanic Agencies

Oceanic Agencies is a specialist provider of Packaging and Material Handling products to the Australian Seafood industry. The business supplies some of the largest seafood companies in Australia with custom-printed packaging, insulated bins, flexible plastic packaging and plastic tubs and crates.

www.oceanicagencies.com.au

About O F Packaging

O F Packaging ranks among the top packaging companies in Australia, providing premium flexible, carton and sustainable packaging products.

www.ofpack.com.au

From the first interaction with DMA we were extremely happy with the professionalism displayed in terms of their responsiveness, communication and team approach. The IM created after engagement was very thorough and canvassed all aspects of the market that would be of interest for potential clients. The ongoing process of communication, advice and support during the sales process was excellent and continued to impress. The issue of confidentiality and discretion in an industry that is relatively small was dealt with sensitivity and in a manner that enabled the ongoing operation of the business mitigating the risk of any issues. DMA’s negotiation process was strong and subsequent discussions with the buyers established that they found DMA to be pleasant to deal with whilst ensuring our best interests were met which was extremely reassuring to hear.

Tania Schwede & Paul Schmidt, Oceanic Agencies

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