Supremex of Montreal has concluded the acquisition of Stuart Packaging Inc., a folding-carton printer for the consumer market, based in Mont-Royal, Quebec. Supremex is a manufacturer and marketer of stock and custom envelopes, as well as packaging and specialty products, for the North American market.
This acquisition, according to the company, brings its share of total revenues from packaging and specialty products to more than 22 percent on an annual pro-forma basis and represents a key building block for its growth strategy.
The transaction was concluded for total cash consideration of $17.5 million, in addition, an amount of up to $2.1 million will be payable in 24 months subject to the realization of certain pre-established financial targets over that period.
Founded in 1983 by Stuart Goldman, Stuart Packaging generated annual revenues of approximately $18 million over the past 12 months. It employs approximately 65 people at a 68,000-square-foot facility.
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