Graeme Hart built his fortune through a long series of leveraged acquisitions, turning a small New Zealand business base into an international packaging empire and repeatedly recycling capital through purchases, restructurings and sales. [1][2]
A small operating base became an acquisition platform
Hart left school at 15 and later returned to formal study, completing an MBA at the University of Otago in the 1980s. The university says he used that period to sharpen the acquisition-led business approach that became central to his career. [2]
Rather than inheriting a large operating company, Hart built scale by buying businesses with borrowed money, improving cash generation and using proceeds from asset sales to support larger transactions. Forbes describes leveraged buyouts as the defining mechanism behind his packaging fortune. [1]
That strategy moved from New Zealand assets into increasingly large packaging businesses, eventually giving Hart exposure to products ranging from beverage cartons to consumer food packaging. The value creation came from controlling businesses, restructuring them and compounding acquisition capacity over time. [1][2]
Packaging became the durable source of billionaire-scale wealth
Hart concentrated much of his later portfolio in packaging and related manufacturing, creating a collection of businesses with recurring demand and substantial operating cash flow. Forbes identifies that packaging empire, rather than a single inherited stake, as the main source of his wealth. [1]
The portfolio has continued to change through major exits as well as acquisitions. In 2025 Hart sold his controlling stake in Pactiv Evergreen as part of its combination with Novolex, illustrating how his fortune has repeatedly shifted between operating ownership, transaction proceeds and privately held investment capital. [1]
Sources for background
Sources reviewed Sep 21, 2026.
- Graeme Hart · Forbes · Mar 10, 2026
- Honorary doctorate for New Zealand businessman · University of Otago · Dec 13, 2017
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