Supremex Announces the Acquisition of Graf-Pak Inc.
08 Maio 2023 - 8:00AM
Supremex Inc. (“Supremex” or the “Company”) (TSX: SXP), a
leading North American manufacturer and marketer of envelopes and a
growing provider of paper-based packaging solutions, announced
today the acquisition of the assets of Graf-Pak Inc. (“Graf-Pak”),
a provider of folding carton packaging solutions to a variety of
commercial markets. The transaction was concluded for a total
consideration of approximately $6.0 million, on a cash-free and
debt-free basis, subject to customary adjustments, financed through
the Company’s existing credit facility.
Founded in 1995 and employing close to 25
people, Graf-Pak operates a facility located in Pointe-Claire,
Québec, near the Company’s primary folding carton plant in Lachine.
Its offering is comprised primarily of the printing and
manufacturing of folding carton packaging products, mainly for the
food and cosmetics markets. For its last fiscal year, Graf-Pak
generated sales of approximately $6.7 million.
“The acquisition of Graf-Pak is a perfect fit
with our existing folding carton operations in Quebec,” said
Stewart Emerson, President and CEO of Supremex. “Graf-Pak’s
well-established business in the food and cosmetics sectors will
provide further critical mass in these two important growth vectors
for Supremex. Its state-of-the-art equipment ensures speed,
efficiency, accuracy and superior quality at every step of the
manufacturing process. Given its proximity, we intend to integrate
Graf-Pak’s operations into our Lachine hub over the next 90 days
and we expect this tuck-in operation to rapidly yield synergies
within our folding carton group.”
Forward-Looking Information
This press release contains “forward-looking
information” within the meaning of applicable Canadian securities
laws, including (but not limited to) statements about synergies
generated by the acquisition of Graf-Pak and the continued
employment of its employees. Forward-looking information may
include words such as anticipate, assumption, believe, could,
expect, goal, guidance, intend, may, objective, outlook, plan,
seek, should, strive, target and will. Such information relates to
future events or future performance and reflects current
assumptions, expectations and estimates of management as at the
date of this press release. Supremex cautions that such assumptions
may not materialize and that economic conditions such as heightened
inflation and central banks’ large interest rate hikes, economic
downturns or recessions, may render such assumptions, although
believed reasonable at the time they were made, subject to greater
uncertainty.
Forward-looking information is subject to
certain risks and uncertainties and should not be read as a
guarantee of future performance or results and actual results may
differ materially from the conclusion, forecast or projection
stated in such forward-looking information. These risks and
uncertainties include but are not limited to the following: decline
in envelope consumption, growth and diversification strategy, key
personnel, labor shortage, contributions to employee benefits
plans, cyber security and data protection, raw material price
increases, operational disruption, dependence on and loss of
customer relationships, increase of competition, economic cycles,
exchange rate fluctuation, interest rate fluctuation, credit risks
with respect to trade receivables, availability of capital,
concerns about protection of the environment, potential risk of
litigation, no guarantee to pay dividends and global health crisis.
In addition, risks and uncertainties arising as a result of the
COVID-19 pandemic that could cause results to differ from those
expected include, but are not limited to: potential government
actions, changes in consumer behaviors and demand, changes in
customer requirements, inflationary pressures on input costs and
incapacity to pass raw material increases to customers, disruptions
of the Company’s suppliers and supply chain, availability of
personnel and uncertainty about the extent and duration of the
pandemic. Such risks and uncertainties are discussed throughout the
Management Discussion and Analysis (“MD&A”) for fiscal year
ended December 31, 2022 and, in the Company’s Annual Information
Form dated March 31, 2023 in particular, in “Risk Factors”.
Consequently, the Company cannot guarantee that any forward-looking
information will materialize. Readers should not place any undue
reliance on such forward-looking information unless otherwise
required by applicable securities legislation. The Company
expressly disclaims any intention and assumes no obligation to
update or revise any forward-looking information, whether as a
result of new information, future events or otherwise.
The MD&A and Financial Statements can be
found on www.sedar.com and on Supremex’ website.
About Supremex
Supremex is a leading North American
manufacturer and marketer of envelopes and a growing provider of
paper-based packaging solutions. Supremex operates eleven
manufacturing facilities across four provinces in Canada and six
manufacturing facilities in four states in the United States
employing over 1,000 people. Supremex’ growing footprint allows it
to efficiently manufacture and distribute envelope and packaging
solutions designed to the specifications of major national and
multinational corporations, direct mailers, resellers, government
entities, SMEs and solutions providers.
For more information, please visit
www.supremex.com.
Contact:Martin Goulet, M.Sc., CFAMBC Capital
Markets Advisorsmgoulet@maisonbrison.com514 731-0000,
extension 229
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