Intertape Polymer to acquire Flexia Corp and Fib-Pak Industries

Intertape Polymer Group Inc. announced Intertape Polymer Inc, a wholly-owned Canadian subsidiary of IPG, will acquire all of the outstanding stock of Flexia Corp. and Fib-Pak Industries Inc., for an aggregate consideration of some $33.5 million.
The acquisition will be funded by IPG from available credit facilities. The acquisition strengthens the engineered coated product line of IPG by broadening its range of products and providing the opportunity to reduce costs in the combined operations.