Supremex Finalizes $11.25 Million Acquisition of G2 Printing
G2 Printing is a family-owned fully integrated manufacturer of folding cartons with annual revenues of approximately $12 million on a last-twelve-month basis, including its related labels business, Pharmaflex.
May 1, 2018 - Supremex today announced that it has concluded the acquisition of Groupe Deux Printing Inc. ("G2 Printing”) and its related company Pharmaflex Labels Inc. of Laval, Quebec, a leading manufacturer of premium quality folding carton packaging and labels primarily for the pharmaceutical industry.
The transaction was concluded for total cash consideration of $11.25 million on a cash-free and debt-free basis subject to customary adjustments for working capital and other items.
“With packaging representing close to 30% of our revenues on a pro-forma basis, we are now one step closer to reach our 50/50 diversification objectives, which is critical to our long-term success as the secular decline in the Canadian envelope market continues,” said Stewart Emerson, President & CEO of Supremex.
“The acquisition of G2 and Pharmaflex perfectly complements our previous packaging acquisitions and growing labels business. We can now provide a complete range of packaging solutions to the pharmaceutical industry including related inserts, leaflets and labels, essentially becoming a one-stop-shop for our growing multinational customer base in the pharmaceutical, cosmetics and food industries,” added Emerson.
G2 is a family-owned fully integrated manufacturer of folding cartons with annual revenues of approximately $12 million on a last-twelve-month basis, including its related labels business, Pharmaflex. It employs approximately 60 people at two state-of-the-art facilities located in Laval, Quebec.
Supremex Inc. is a leading North American manufacturer and marketer of a broad range of stock and custom envelopes and growing provider of folding cartons, corrugated boxes, labels and fulfillment packaging solutions. Supremex is the only national envelope manufacturer in Canada, with facilities across seven provinces and three facilities in the United States and employs over 800 people. To learn more, please visit: www.supremex.com.
SOURCE: SupremeX Inc.