Imaflex to go private through Soteria buyout

US-based packaging institution Soteria Flexibles has agreed to get Canadian flexible packaging shaper Imaflex.

The woody values the Montreal-based company’s equity astatine C$123m ($89.2m).

Under the agreed terms, an affiliate of Soteria volition acquisition each issued and outstanding communal shares of Imaflex astatine C$2.35 each successful cash.

Once the transaction is completed, Imaflex volition beryllium delisted and run arsenic a privately held company.

The acquisition is expected to adjacent successful the archetypal 4th of 2026.

The closure is taxable to modular conditions, including support from regulators and shareholders.

Soteria CEO Brad Herbolsheimer stated: “This transaction is simply a earthy acceptable for Soteria. Imaflex brings heavy method expertise, beardown lawsuit relationships and a highly susceptible squad that aligns intimately with our civilization and strategical priorities. Together, we are gathering a stronger, much diversified flexible packaging level with enhanced scale, capabilities and geographic reach.”

Imaflex’s committee of directors has unanimously cleared the woody and recommended that shareholders enactment it.

Imaflex enforcement president Joe Abbandonato added: “This transaction positions our concern for semipermanent occurrence by leveraging the resources and standard of the combined entities, creating a stronger maturation platform, and opening caller opportunities for employees. It has the afloat enactment of our committee of directors and absorption team.”

Founded successful 1994, Imaflex produces polyethylene films and flexible packaging solutions, including obstruction and metallised films, for customers successful the industrial, agricultural, nutrient and user sectors.

The institution runs manufacturing sites successful Canada and the US.

Soteria, a portfolio institution of backstage equity steadfast TJC, specialises successful short-run, customized flexible packaging and high-performance films.

Its products service extremity markets specified arsenic food, healthcare, concern and user applications. Soteria operates 8 manufacturing facilities crossed North America.

"Imaflex to spell backstage done Soteria buyout" was primitively created and published by Packaging Gateway, a GlobalData owned brand.

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