Visy Packaging has emerged as favourite to buy O-I’s Australia and New Zealand operations.

Visy is an Australian packaging company, owned by the Pratt family, which has 120 sites across Australia, New Zealand and Thailand.

It serves the food cans, beverage cans and cardboard sectors, among others.

It appears to have nudged ahead of Pacific Equity Partners in its bid to acquire O-I’s Australasian business.