M&As this week: RPM International, Supremex, Sonoco
Specialty coatings company RPM International has reached an agreement to acquire Key Resin Company, which manufactures polymer flooring and coating systems.
The target company will be incorporated into the acquirer’s Euclid Group of companies following the transaction.
Both companies involved in the transaction are based in the US.
Supremex has completed its acquisition of Canada-based Stuart Packaging for $17.5m on a cash-free and debt-free basis.
The transaction also includes an additional payment of approximately $2.1m to be made in two years.
The acquirer company provides packaging and specialty products, while the target company supplies folding cartons for the cosmetics, nutraceutical, fragrance and pharmaceutical industries.
Sonoco has acquired Clear Lam Packaging, a flexible and plastic packaging films manufacturer, for $170m.
The acquirer company intends to use available credit facilities, including a new $750m bank credit facility, to finance the transaction.
Jet Label & Packaging, a producer of labels and printed tape, has completed its acquisition of United Label Company, which is based in British Columbia, Canada.
Jet Label aims to enhance its production capacity and offer additional space over the next two years throughout the acquisition, while expanding its mass-market retail sector.
The company also intends to invest in infrastructure at the target company’s facility over the next two years.