Cascades to divest flexible packaging plant in Ontario, Canada

Core Insights - Cascades has agreed to sell its flexible packaging plant in Mississauga, Ontario to Five Star Holding for C$31 million ($22.23 million), effective immediately [1][2] - The divestment aligns with Cascades' strategy to focus on core business areas and optimize its operational structure, which includes reducing debt [2][3] - Five Star Holding aims to enhance its growth in sustainable packaging for consumer, food, and beverage markets across North America through this acquisition [3] Company Overview - Cascades operates 65 facilities across North America and employs approximately 9,500 people [4] - The Mississauga facility is the only location where Cascades produces printed flexible plastic packaging and films, and it will transfer 45 employees to Five Star upon completion of the sale [1][2]