Intertape Polymer Group Inc. announced the completion on July 1 of the previouslyannounced transaction to acquire substantially all of the assets of Canadian Technical Tape Ltd. (d/b/a “Cantech”), a North American supplier of industrial and specialty tapes based in Montreal. The expected aggregate purchase price is approximately $67 million (as updated from the previously-communicated purchase price of $63 million due to certain purchase price adjustments), subject to further post-closing adjustments. All amounts in this press release are denominated in US dollars. Click Read More below for additional detail.
WestRock Company (NYSE: WRK), a leading provider of differentiated paper and packaging solutions, has announced an expansion of its produce packaging offerings with the launch of its EverGrow™ Collection.
WestRock has achieved a proprietary approach for a produce packaging collection made using sustainably sourced wood fiber. WestRock EverGrow packaging is curbside recyclable when emptied and flattened, supporting the company’s ambition to reduce waste and build a 100 percent reusable, recyclable and compostable product portfolio.
“WestRock’s new EverGrow Collection is an excellent example of how we are innovating to improve the sustainability of our products while helping our customers meet their sustainability goals,” said Patrick Kivits, president of Consumer Packaging at WestRock. “We’ve leveraged our material science, structural design and packaging automation expertise to develop a collection of truly differentiated packaging solutions for our produce customers that are functional, recyclable and eye-catching.”
WestRock has worked with growers and retailers for generations to provide highly differentiated, fiber-based corrugated packaging and automation solutions. The EverGrow Collection is a natural extension. Its baskets, carriers, punnets and tills have been thoughtfully designed for easy stacking, operational efficiencies and superior branding at retail.
WestRock customer Niagara Orchards and Vineyard Corp was able to utilize these design features when the company launched its new paperboard produce carriers last year.
“We set out to deliver a 100% recyclable and sustainable container for the industry that is easy to pack, stack and handle,” said Spenser Greenfield, General Manager of Niagara Orchard and Vineyard Corp. “With the help from WestRock, we at Niagara Orchard and Vineyard Corp are now doing our part to move the produce industry away from plastic.”