Supremex Inc, a North American manufacturer and marketer of envelopes and a provider of paper-based packaging solutions, said on Monday it had acquired the assets of Graf-Pak Inc.
The deal was valued at $6.0 million, on a cash-free and debt-free basis.
Established in 1995 and currently employing over 20 people, Graf-Pak has a facility located in Pointe-Claire, Québec, Canada. The company’s offering mostly encompasses the printing and manufacturing of folding carton packaging products, primarily for the food and cosmetics markets.
“The acquisition of Graf-Pak is a perfect fit with our existing folding carton operations in Quebec,” Stewart Emerson, President and Chief Executive Officer of Supremex, said in a press release.
“Graf-Pak’s well-established business in the food and cosmetics sectors will provide further critical mass in these two important growth vectors for Supremex. Its state-of-the-art equipment ensures speed, efficiency, accuracy and superior quality at every step of the manufacturing process. Given its proximity, we intend to integrate Graf-Pak’s operations into our Lachine hub over the next 90 days and we expect this tuck-in operation to rapidly yield synergies within our folding carton group,” the CEO added.
Graf-Pak had nearly $6.7 million in sales during its latest fiscal year.
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