Australian billionaire Raphael Geminder is weighing the sale of the Asian operations of his packaging companies, Dynapack Asia and Pact Group Holdings, in a potential transaction that could value the businesses at around $1bn, according to a report by Bloomberg.

Dynapack Asia and Pact Group have hired a financial adviser and begun approaching potential investors, including private equity firms and strategic buyers in the global packaging sector. Discussions are ongoing and may not lead to a transaction.

Geminder owns 50% of Dynapack Asia, while the remaining stake is held by the Hambali family of Indonesia, who are also considering participating in the sale.

Founded in 1959, Dynapack Asia supplies packaging and components such as bottles, jars, tubes, and moulded parts for the personal care, food and beverage, household, and pharmaceutical industries. Its clients include Coca-Cola, Johnson & Johnson, Procter & Gamble, Shell, and Unilever. The company operates from offices in Jakarta, Bangkok, and Singapore.

Geminder established Pact Group in 2002. The company delisted from the Australian Securities Exchange in July 2025 following a review of its Asian packaging and closures business, which remains under strategic consideration. Pact reported an 18.4% increase in net debt last year to about A$496m ($328m).

Geminder, whose family ties include brother-in-law Anthony Pratt, Australia’s fourth-richest person, chairs both Pact and Dynapack Asia. The potential divestment would mark one of the largest packaging deals in the region this year and could attract significant private equity interest given the sector’s recurring cash flows and strong multinational client base.

Neither Dynapack Asia nor Pact Group responded to requests for comment.

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