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Cascades sells its Flexible Packaging plant to Five Star Holding for $31 million
The transaction strengthens Cascades’ optimization strategy and ensures operational and employment continuity in Mississauga, Ontario
Cascades Inc., has announced the sale of the operations of its Flexible Packaging plant, located in Mississauga, Ontario, to Five Star Holding, a company based in Houston, Texas, for $31 million. The transaction takes effect immediately, while Cascades will retain ownership of the property.
The Flexible Packaging facility, Cascades’ only plant dedicated to producing printed flexible plastic packaging and films, employs 45 people, all of whom will be retained by Five Star upon the closing of the deal. Both companies will work closely to ensure a smooth ownership transition for employees, customers, and suppliers.
The agreement also includes a supply contract between the two parties to ensure the continued production and delivery of flexible films used by Cascades’ Tissue and Packaging sectors.
According to Hugues Simon, President and CEO of Cascades, “this decision will allow us to reduce debt and support the optimization of our operating platform for growth in our strategic sectors. We are pleased to have found in Five Star a buyer committed to maintaining and developing the plant’s activities.”
Alex Huis In ‘T Veld, CEO of Five Star, added, “We are excited to welcome the Cascades Flexible Packaging team to the Five Star family. There was an immediate connection between our teams, built on a shared culture of manufacturing excellence and focus on quality and safety. This acquisition will accelerate our growth in sustainable packaging for consumer, food, and beverage markets across Canada and North America.”
Founded in 1964, Cascades offers sustainable, innovative, and value-added solutions for packaging, hygiene, and recovery. The company employs approximately 9,500 people across 65 operating facilities in North America.
Five Star Holding designs and manufactures a wide range of flexible packaging, printed films, and sustainability programs for the pet care, food and beverage, consumer, and industrial markets. Headquartered in Houston, Texas, with additional manufacturing plants in Canada, Mexico, and Honduras, Five Star is vertically integrated from extrusion and recycling to printing and conversion, delivering packaging solutions that support sustainability and brand performance.
