Cascades Completes Acquisition of Atlantic Packaging's Tissue Division
By Canadian Packaging Staff
General acquisition Atlantic Packaging Products Ltd. Cascades Inc.
Cascades Inc., headquartered in Kingsley Falls, Que. and a leader in recovery and in green packaging and tissue paper products, has announced it has completed the acquisition of the tissue division of Atlantic Packaging Products Ltd.
The estimated value of the transaction is approximately $60-million. This acquisition will enable Cascades to increase its annual production capacity by 55,000 short tons of recycled paper and its converting capacity by approximately 70,000 short tons adding close to $100-million in sales per year.
According to Suzanne Blanchet, president and chief executive officer of Cascades Tissue Group: "Cascades Tissue Group has dedicated considerable resources to the development of the Cascades Enviro100% recycled brand, to the point where it is now considered to be the number one green brand in the country, according to AC Nielsen. This transaction will enable us to further the development of the Cascades Enviro100% recycled brand particularly in central and western Canada by bringing us closer to our customers who are located west of Qubec."
In commenting on the transaction, Alain Lemaire, president and chief executive office with Atlantic Packaging, states: "This acquisition which allows us to further consolidate our position as a leader in the development of environmentally responsible products. Atlantic Packaging Products Ltd. has been using recycled fibers to manufacture its products for many years. Building on this experience, Cascades will ensure that its environmentally sound principles are applied to existing processes, namely, with regards to green chemistry and minimal consumption of water and energy."
Cascades products can be obtained in Ontario at Walmart, Canadian Tire and Costco, and under the Metro banners (A&P, The Barn, Ultra Food and Drugs, Loeb and Dominion).
Founded in 1964, Cascades produces, converts and markets packaging and tissue products composed mainly of recycled fibers. Cascades employs nearly 13,000 men and women who work in some 100 modern and flexible production units located in North America and in Europe.
For more information, visit www.cascades.com.
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