Margin Call: Pratt boxes in Pact for family twist

IT is no secret there is no love lost between the two Melbourne billionaire brothers-in-law Anthony Pratt and Raphael “Ruffy’’ Geminder when it comes to the packaging industry.

Much to the excitement of competition tsar Rod Sims, Pratt’s Visy Group and Geminder’s Pact Group have been at each other’s throats in recent years to win market share.

And now Pratt has had a big win in the box wars, with Visy said to have pinched from Pact a $55 million dollar-a-year contract with drinks giant Lion, owned by Japanese outfit Kirin, which must have made the Pratt family’s regular Friday night dinner catch-ups a touch more interesting of late.

In another family ties twist, Geminder’s loss is something of a gain for wife Fiona, who owns a one-third stake in Visy.

Asked last year about losing a customer to Visy, Geminder replied: “I don’t think there is any difference between Visy and any other competitor.

“Losing a customer is a painful experience, period. It doesn’t matter where the pain is. It is like saying, `Is it more painful if you smash your finger whether it is a thumb or a pinky? They are all fingers’.’’