KINGSEY FALLS, Quebec (News release) -- Cascades Inc. announces the acquisition of assets, all located in the United States, which will allow the company to double its production capacity of ecological packaging manufactured in moulded pulp. The total cost of the transaction amounts to $37.4 million.
The acquired manufacturing plants are Urban Forest Products and Clarion Packaging respectively located in Brook, Indiana and Clarion, Iowa ; two of the top three egg-producing states in the U.S.
The plants manufacture moulded pulp protective packaging that primarily serves the egg and quick service restaurant industries and have a combined workforce of just over 150 employees.
Cascades also acquired a majority interest in Falcon Packaging, a leader in the distribution of egg packaging which has 31 employees in Ohio, Iowa and Georgia. Combined, these three companies have consolidated sales that exceed $110 million annually.
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