North America-based packaging solutions provider GELPAC has announced the strategic acquisition of Standard Multiwall Bag (Standard Bag), a family-owned company headquartered in Beaverton, Oregon, US.
The companies have not disclosed the financial terms of this transaction.
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NAMAKOR Holdings served as the strategic support provider and was also responsible for managing the negotiations, which resulted in providing finances for the deal from W Investments, CDPQ, and a National Bank of Canada-led banking syndicate.
The acquired company is a speciality producer and supplier of food-grade, industrial multi-wall and woven poly laminated bags.
Such bags are crucial for the effective management of raw materials and finished products. It is used by different industries, including in the agrifood and pharmaceutical sectors.
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GELPAC CEO Alain Robillard said: “The acquisition of efficient western and south-western production plants further strengthens our competitive position in North America.
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By GlobalData“By combining the strengths of each of our plants, by integrating our respective research and development initiatives, on-going innovations to the manufacturing processes and procurement strategies, as well as extending our geographical reach, we will offer the best-performing packaging solutions in the market.”
Specialising in offering expertise, speed and flexibility, Standard Bag plants provide high-quality products to address the demands and requirements of consumers.
This is expected to match with GELPAC’s network of bag and poly plants at different locations across North America, including Brampton, Haverhill, Farnham, Marieville, Massachusetts, Ontario and Quebec.
Robillard added: “Having itself grown from a family operation, GELPAC has always remained true to its core values of treating each client and team member with integrity and respect. As such, the cultural fit cannot be any tighter.
“The orderly transfer of ownership and the smooth integration of the Standard Bag team will ensure the continuity of operations.
“The addition of this complementary production capacity to our comprehensive products portfolio will allow us to provide our North American clients with even greater value.”
In 2019, GELPAC purchased WBC Extrusion Products, a US-based single-use blown polymer film manufacturing company.
