Given its geographic position, the Richmond corrugated packaging plant offered limited integration and synergy potential within Cascades' operational network, but aligns with Crown's current footprint.
Jan. 30, 2026 - Cascades Inc. has entered into an agreement with Crown Paper Group for the sale of its corrugated packaging plant located in Richmond, British Columbia, for a total value of $65.5 million, including the real estate assets and subject to working capital adjustments and the assumption of certain liabilities.
The transaction is expected to be completed in the coming days, subject to customary closing conditions and adjustments.
In view of Cascades' commitment to optimize its operations and reduce its debt, the sale of the Richmond plant emerged as a mutually beneficial outcome for both Cascades and Crown. Given its geographic position, the Richmond plant offered limited integration and synergy potential within Cascades' operational network, but aligns with Crown's current footprint, expanding its operations in the region.
"Cascades is committed to improving profitability and optimizing its operational platform by allocating capital to its core markets," said Hugues Simon, President and CEO of Cascades. "This transaction with Crown Paper Group supports the achievement of Cascades' strategic objectives while preserving the prospects of the Richmond plant. It allows to monetize valuable real estate assets while not impacting materially the cash flow profile of our Packaging sector."
Rob Kreizenbeck, CEO of Crown Paper Group, commented, "Acquiring the Richmond Box Plant is an important milestone in Crown's continued expansion, furthering the integration of our mill and box operations to provide our customers with exceptional service and product offerings."
Cascades noted that it will work closely with Crown to support an orderly transition with customers, employees, and suppliers.
Crown Paper Group is a leading regional integrated containerboard business operating an integrated containerboard mill, two converting facilities and three company?owned distribution centers. The company, which includes Port Townsend Paper Company, Crown Packaging and Boxmaster, has a strategic presence in the growing markets of the Pacific Northwest and Western Canada.
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