Supremex Buys Goldrich Printpak For $34.0 Million
Supremex (SXP.TO) on Friday said its acquired Goldrich Printpak, a provider of folding carton packaging, for about $34.0 million, on a cash-free and debt-free basis, financed through the company's existing credit facility.The envelope manufacturer noted Goldrich generated sales of about $30.0 million for its last fiscal year."Beyond the immediate strategic and financial merits of this transaction, Goldrich provides a strategically located base from which to pursue a robust pipeline of additional tuck-in acquisitions in the years ahead," said Chief Executive Stewart Emerson. "We expect the acquisition to be a powerful driver of long-term value creation for shareholders, accelerating top-line growth, supporting continued EBITDA margin expansion as volumes scale and synergies are realized, and enhancing our ability to serve the evolving needs of national and multinational packaging customers across North America."Shares of the company were last seen up $0.06 to $3.63 on the Toronto Stock Exchange.Price: $3.63, Change: $+0.06, Percent Change: +1.68%
