Supremex has completed the acquisition of Toronto-based packaging manufacturer Goldrich Printpak in a transaction valued at approximately $34 million. The deal was carried out on a cash-free and debt-free basis, subject to customary adjustments, and was funded through the company’s existing credit facility. Founded in 1953, Goldrich operates a 68,000-square-foot manufacturing facility in Toronto and employs around 90 people. The company focuses on folding carton packaging for the food, pharmaceutical and cosmetics industries and reported approximately $30 million in sales during its latest fiscal year. The Goldrich Printpak Acquisition gives Supremex a significant foothold in folding carton manufacturing within the Greater Toronto Area.
Commenting on the transaction, Stewart Emerson, president and CEO of Supremex, said: “The acquisition of Goldrich is a defining moment in Supremex’s transformation into a diversified North American leader in paper-based packaging and marks a cornerstone in the execution of our growth strategy.” He added that the deal creates the company’s first major folding carton platform in Canada’s largest packaging market while accelerating revenue diversification into higher-growth and higher-value segments. Emerson also noted that Goldrich contributes an established manufacturing operation, an experienced workforce and long-standing customer relationships that strengthen Supremex’s scale, capabilities and competitive position in the folding carton sector.
Emerson further stated: “Beyond the immediate strategic and financial merits of this transaction, Goldrich provides a strategically located base from which to pursue a robust pipeline of additional tuck-in acquisitions in the years ahead.” He added that the acquisition is expected to support long-term value creation through stronger revenue growth, continued EBITDA margin expansion as production volumes increase and synergies are realized, and improved service capabilities for national and multinational packaging customers across North America. He also welcomed Goldrich employees to the organization and highlighted plans to develop a leading folding carton platform in Canada following the Goldrich Printpak Acquisition.
Based in LaSalle, Quebec, Supremex provides paper-based packaging solutions and is also a North American manufacturer and marketer of envelopes. The company operates 10 manufacturing facilities across four Canadian provinces and four additional facilities in three U.S. states, with a workforce of approximately 1,000 employees.
