James Packer is currently Australia's richest boss
IN PHOTO: Melco Crown Entertainment Ltd co-Chairman James Packer (R) gestures while co-Chairman and CEO Lawrence Ho looks on during a news conference and grand opening of the City of Dreams in Manila February 2, 2015. Macau's Melco Crown Entertainment Ltd is not eager to include South Korea in its resort-casino portfolio and will instead focus on ramping up operations at its newly opened City of Dreams Manila project, a top company official said on Monday. While Melco Crown finds South Korea an interesting gaming market, areas like Incheon cannot guarantee a daily traffic of 30,000 visitors, a key requirement to make an integrated casino-resort project viable, Ho told reporters in Manila where he led the formal opening of the over $1 billion City of Dreams. Reuters/Romeo Ranoco

In the Forbes list of 50 Australian billionaires, Fiona Geminder is ranked 12 with an estimated wealth of $2 billion or AU$2.27 billion. She has more fame as the youngest daughter of late packaging tycoon Richard Pratt.

In terms of assets, Geminder owns 40 percent of plastic packaging business in Pact Group, in which her husband Raphael Geminder is the chairman. Pact went public in 2013 and is expanding fast. Besides Pact, Fiona also has stake in Visy, her family's Melbourne-headquartered paper packaging business, along with her siblings Anthony Pratt and sister Heloise Waislitz.

Private Person

Fifty-year old Fiona Geminder is a graduate and her additional qualifications include a degree in law. She is the mother of four children. Fiona is a very private person and maintains strict privacy and never flaunts her wealth or use the name to drive business or charity work, Fiona Geminder always shuns spotlight and the last occasion when she was photographed in public was during her father’s funeral, six years ago.

Fiona’s father Richard Pratt was one of the richest in Australia and he died in 2009. Pratt built Visy Industries into a leading company in Australia and made a fortune of more than AU$5 billion. Late Pratt’s son Anthony is one of the richest persons in Australia. Richard Pratt hails from a Polish Jewish family.

Acquisition

Pact Group recently made news when it acquired one of its customers for A$80 million. The Melbourne-based Pact bought Jalco Group that is based in Prestons, Australia. Pact’s manufacturing operations are spread in 39 plants in Australia, 23 across New Zealand, China, the Philippines and Thailand. It has 2,200 employees in Australia, and more than 1300 in New Zealand and Asia. Its annual sales are exceed A$400 million.

Jalco is an old company and was established in 1973 with annual sales of about A$165 million in homecare and personal care divisions. It also runs automotive as well as promotional packaging divisions. Jalco products include washing powders, shampoos, automotive fluids, and diet supplements. Pact will finalise the deal by Sept. 1.

According to Pact’s Chief Financial Officer Darren Brown, Jalco makes high density polyethylene and polypropylene bottles and has been buying packaging materials from Pact and others. According to a statement by Pact to the Australian Stock Exchange, Jalco’s owners will continue to retain the company’s health and wellness division.

(For feedback/comments, contact the writer at k.kumar@ibtimes.com.au)