On July 18, 2018, Intertape Polymer Group Inc. (IPG) announced that it had entered into a definitive agreement to acquire 100% of the outstanding equity value in Polyair Inter Pack Inc. (Polyair) for total cash consideration of approximately $146 million.
IPG is a recognized leader in the development, manufacture and sale of a variety of paper- and film-based pressure sensitive and water-activated tapes, polyethylene and specialized polyolefin films, woven coated fabrics and complementary packaging systems for industrial and retail use. The target, Polyair, a private company, is a significant industry player in the protective packaging business with seven manufacturing facilities and a distribution center in North America.
The acquisition will further strengthen IPG’s product bundle and bring immediate and additional scale of protective packaging solutions. The transaction is significant, as it demonstrates IPG’S commitment to deliver on their strategic growth targets and become a global leader in packaging and protective solutions.
Fasken represented IPG in this acquisition with a team led by Neil Kravitz that included Constantinos Ragas, Matthew Quadrini (Mergers & Acquisitions), Paul Cabana, Taj Kudhail (Tax), Ross Gascho, Avneet Jaswal (Labour and Employment), Rosalind H. Cooper, Pierre-Olivier Charlebois (Environment) and Caleigh Caplan (Real Estate).
