|Investment Type||Shareholder Activism|
|Subsidiary investment type||Growth and Replacement|
|Our entrepreneur partners||Robin Moore and Manley Diedloff|
Astrapak, established in 1996 and listed on the Johannesburg Stock Exchange, is a consolidation of plastic packaging companies headquartered in Denver, Johannesburg. It operates nationally through Rigids and Flexibles divisions, and employs over 4 400 people in its operations which report annual revenues of around R2.6bn, making it the largest player in the South African plastic packaging market.
Metier's principals led and advised Astrapak prior to its 1997 IPO on the JSE, and continue to be represented on the board. In 2008 LMCGF built up a sizeable minority position in the company in support of the new executive management team and restructured board. Driving a renewed change programme focusing on higher margin specialist areas, Metier has helped improve working capital and treasury disciplines and re-energised the team.