Supremex Inc., a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions, announced today the acquisition of the shares of Impression Paragraph Inc. (“Paragraph”), an integrated provider of paper-based packaging, print and point of sale products for a broad range of commercial markets. The transaction was concluded for a total consideration of approximately $26.6 million, on a cash-free and debt-free basis, subject to customary adjustments, financed through the Company’s existing credit facility. Founded more than 35 years ago, Paragraph operates two facilities located in Ville-Saint-Laurent and Saint-Hyacinthe, Québec. Its offering consists primarily of folding carton packaging and point-of-sale displays for the cosmetic, pharmaceutical, food, confectionary and retail sectors. It also provides an array of commercial, digital and wide-format printing. For the 12-month period ended October 31, 2022, Paragraph generated sales of approximately $38.6 million.
Effective immediately, Wade Brewer has been promoted to the position of Director of Manufacturing. Mr. Brewer has more than thirty-five years of print industry experience, ten of those with Ennis most recently as a Business Unit Director. He will continue to drive plant operations, as well as promote future growth. Mr. Brewer will report directly to Keith Walters, CEO. He will be responsible for all manufacturing operations. Kevin Johnston and Steve Reifel, the existing Business Unit Directors, will report to him.
Effective February 1, 2021, Tony Orsello will be promoted to the position of Business Unit Director reporting to Wade Brewer. A 30-year printing industry veteran, Mr. Orsello joined the Northstar team back in 1997 as Production Manager, then Plant Manager in 2001, and most recently held the position of General Manager at the Northstar facility in Brooklyn Park, Minnesota since 2009. He will be relocating to the Corporate office in Midlothian, Texas.
Effective February 1, 2021, Henry Schultz will assume the duties as General Manager for the Northstar Brooklyn Park facility replacing Tony Orsello. Mr. Schultz has been with the Northstar Roseville facility since 1996 as the Plant Manager, then most recently as the General Manager for the past 15 years. In addition to the Northstar facility, he also is the General Manager of General Financial Supply and Printgraphics in Nevada, Iowa. Mr. Schultz will drive the daily sales and production activities of Northstar and will report to Mr. Orsello as his Business Unit Director.