Intertape Polymer Group Inc. boosted its bulk industrial packaging business with the acquisition of two Canadian companies.
Intertape acquired Flexia Corp. and Fib-Pak Industries Inc. effective Oct. 5 for about C$33.5 million, subject to adjustments. The purchases strengthen Intertape's engineered coated product line by adding more products, and gives Intertape opportunities to cut costs by combining operations.
Both firms had been owned by investors since 1999 buyouts led by investment and advisory company Schroder & Associates Canada Inc. of Montreal.
Flexia of Brantford, Ontario, makes a range of coated, printed and laminated materials such as fabrics, paper, film and foil. It has plants in Langley, British Columbia, and Cap-de-la-Madeleine, Quebec. It formerly was a division of Amcor Twinpak - North America Inc.
Fib-Pak makes woven polyethylene scrims, polypropylene fabrics and flexible intermediate bulk containers at two plants in Hawkesbury, Ontario. Part of the PE scrims and PP fabric output is sold to other intermediate container producers. Fib-Pak also used to be a subsidiary of Amcor Twinpak-North America Inc.
Intertape maintains corporate offices in Montreal and Bradenton, Fla.
