Intertape Polymer to buy Glencoe-backed Polyair for $192 mln
Intertape Polymer Group Inc (TSX: ITP) has agreed to acquire Polyair Inter Pack Inc, a Toronto-based maker and marketer of protective packaging products, including bubble cushioning, foam, mailers and air pillow systems. Intertape, a Montréal-based packaging company, agreed to pay about $192 million (US$146 million) in cash. The deal is expected to close in the third quarter. Founded in 1968, Polyair operates seven manufacturing facilities in North America. Intertape said the deal will strengthen its product bundle, bring additional scale of protective solutions, and facilitate cross-selling. Polyair has been backed by U.S. private equity firm Glencoe Capital since 2004.
19 July 2018•4 mins read
