Foster Packaging and Omniverse have joined forces in a merger which won't cost a single job.
Omniverse Foster Packaging Group will be led by a team comprising Foster founders Joe and Regan Foster, and Omniverse executives Brendan Yee and Darren Brits. All 40 staff from both companies will be retained.
"Because of the existing customer base that both companies have got, we want to make sure there’s no disruption in the marketplace whatsoever," said Joe Foster. "We’ve seen very positive growth in Omniverse and very positive growth in Foster Group, which is why we’re able to keep on all the staff."
The merger gives the new entity a much larger pool of resources to draw from, plus extra purchasing power and a larger footprint.
"With the merger our team is 40 people strong, and we now have dedicated people doing dedicated functions, enabling us to target our solutions to our customers," Brendan Yee said. "By having these larger resources, we can concentrate on different areas of our business and move resources around as required."
Foster Group, which has offices in Australia, South Africa and Kenya, produces flexible packaging for a global market. "Designs created in South Africa can be turned into mock up packaging in Australia, produced in the East and shipped to a client in America," the company's website says. Foster will join with Omniverse's supply business, which markets to clients around the world.
"We share the same vision and passion to satisfy customers in the workplace, so we thought this merger was a great idea," Foster said. "There’s a lot of synergy between our two companies with regards to technical expertise, skillset and product knowledge."
The deal will unite Foster's local manufacturing arm with Omniverse's import business. According to Foster and Yee, Omniverse Foster will be able to focus on new product innovation and position themselves as market leaders. "This is only the first step in what’s going to be a very exciting journey for Omniverse Foster Packaging Group," Yee said. "There’s so many more things in the pipeline that we’re looking to innovate and develop, things that will change the Australian packaging landscape."
Omniverse Foster will hold an official launch in Melbourne this month.