Pact Group Holdings Ltd (ASX:PGH) entered into an agreement to acquire Assets and business of Flight Plastics Limited in New Zealand and the packaging-related assets of Flight Extruded Plastics LP in Adelaide on August 19, 2020. Under the terms of agreement, Pact group will acquire the assets and business of Flight Plastics Limited in New Zealand for NZD 26 million. Transaction does not include Flight Extruded Plastics LP’s plastic sheet / roll stock business based in Adelaide. Transaction has EBITDA multiple of 5.8 times for acquiring assets and business of Flight Plastics Limited in New Zealand. This transaction remains conditional upon approval from regulatory and competition Authority. As of December 17, 2020, The Commerce Commission has granted clearance for the transaction. Transaction for acquiring assets and business of Flight Plastics Limited seems is EPS accretive in one year. Ernst & Young Group Ltd. acted as a due diligence provider to Pact Group Holdings Ltd.