Soteria Flexibles Corp. to Acquire Imaflex Inc.

Core Insights - Soteria Flexibles Corp. has announced its acquisition of Imaflex Inc., enhancing its North American flexible packaging platform and capabilities across key end markets [1][2][3] Company Overview - Soteria Flexibles is a U.S.-based manufacturer specializing in short-run flexible packaging solutions, serving various end markets including food, healthcare, industrial, and consumer applications [5] - Imaflex Inc. is a Montreal-based manufacturer known for high-performance films and flexible packaging solutions, with a strong reputation in innovative polyethylene films across multiple sectors [3][7] Transaction Details - The acquisition involves Soteria purchasing all outstanding common shares of Imaflex for CAD $2.35 per share, totaling approximately CAD $123 million in equity value [2] - Upon completion, Imaflex will transition to a privately held company [2] Strategic Fit and Benefits - The transaction is described as a natural fit for Soteria, leveraging Imaflex's technical expertise, customer relationships, and manufacturing capabilities to create a more diversified platform [3][4] - The combined entities aim to enhance their North American footprint, improve service speed and reliability, and foster innovation [4][6] Cultural Alignment - Both companies emphasize strong cultural alignment and shared values, which are expected to facilitate a smooth integration process and support long-term success [4][6] Approval and Timeline - The acquisition has received unanimous approval from Imaflex's board of directors, with a recommendation for shareholders to vote in favor [4] - The transaction is anticipated to close in the first quarter of 2026, pending regulatory and shareholder approvals [4][6]