Cold Chain Technologies acquires Global Cold Chain Solutions
The acquisition marks an expansion of CCT's operational capabilities and its presence in the Asia-Pacific region.
The financial details of the transaction have not been disclosed.
Headquartered in Melbourne, Australia, GCCS designs and manufactures thermal assurance solutions for various life sciences applications.
It specialises in good distribution practice-compliant temperature-controlled packaging and monitoring for pharmaceuticals, healthcare, and logistics.
Its advanced thermal engineering capabilities and manufacturing sites in Australia and India are claimed to offer safe transportation for life-saving drugs.
GCCS founder and CEO Andrew Meyers said: 'We are excited to leverage CCT's diversified product portfolio, thermal engineering expertise, and proprietary digital track-and-trace software to accelerate our worldwide growth.
'We have long admired CCT as a leader in our industry and believe it is the ideal partner to support GCCS' next chapter of growth. We look forward to working with Ranjeet and his team to better serve our customers, our employees, and the entire life sciences community.'
CCT, known for its reusable and sustainable thermal packaging and digital solutions, noted that this acquisition marks its fifth since partnering with Aurora Capital Partners in 2019.
The partnership has allowed CCT to expand its sustainable packaging portfolio, enter new life sciences verticals, launch a digital platform, and enhance its global manufacturing and service capabilities.
CCT CEO Ranjeet Banerjee said: 'GCCS has established itself as a regional market leader over the last two decades by leveraging its differentiated technologies and broad-ranging portfolio of products and services.
'We are thrilled to partner with Andrew and the entire GCCS team to further expand CCT's footprint in Asia-Pacific, which continues to see rapid investment across all life sciences verticals.'
In October 2023, CCT purchased reusable thermal packaging solutions provider Exeltainer for an undisclosed amount.
"Cold Chain Technologies acquires Global Cold Chain Solutions" was originally created and published by Packaging Gateway, a GlobalData owned brand.
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