Opal has completed the sale of its Australian and New Zealand bag manufacturing business to an affiliate of US investment firm The Magan Group, with production expected to continue uninterrupted during the transition.
The sale to Thomastown Bag Solutions Pty Ltd, trading as Bag Solutions Partners, was completed on 1 October 2026.
The Australian business continues to operate from its Thomastown site in Victoria under the Bag Solutions Partners name. The acquisition also includes Opal’s New Zealand Bags business, which will operate through a structured transition over the coming weeks to maintain customer service.
Opal says it is working closely with Bag Solutions Partners, customers and suppliers to support the handover, with no production interruptions expected during the transition period.
The divestment forms part of Opal’s strategy to concentrate on its integrated recycling, paper and packaging operations.
“This decision was made following careful consideration and supports Opal’s continued focus on its core integrated recycling, paper and packaging products and services,” said Simon Nozu, Opal’s chief supply chain and procurement officer.
The Magan Group is a US family office focused exclusively on acquiring businesses divested by corporate owners. According to the group, it has completed 30 such transactions, with each portfolio company operating independently as a separate legal entity.
Bag Solutions Partners will continue serving customers from the existing Thomastown operation, while the staged transition of the New Zealand business is intended to maintain continuity of supply across both markets.
