US-based packaging company Soteria Flexibles has agreed to acquire Canadian flexible packaging producer Imaflex.
The deal values the Montreal-based company’s equity at C$123m ($89.2m).
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Under the agreed terms, an affiliate of Soteria will purchase all issued and outstanding common shares of Imaflex at C$2.35 each in cash.
Once the transaction is completed, Imaflex will be delisted and operate as a privately held company.
The acquisition is expected to close in the first quarter of 2026.
The closure is subject to standard conditions, including approval from regulators and shareholders.
Soteria CEO Brad Herbolsheimer stated: “This transaction is a natural fit for Soteria. Imaflex brings deep technical expertise, strong customer relationships and a highly capable team that aligns closely with our culture and strategic priorities. Together, we are building a stronger, more diversified flexible packaging platform with enhanced scale, capabilities and geographic reach.”
Imaflex’s board of directors has unanimously cleared the deal and recommended that shareholders support it.
Imaflex executive chairman Joe Abbandonato added: “This transaction positions our business for long-term success by leveraging the resources and scale of the combined entities, creating a stronger growth platform, and opening new opportunities for employees. It has the full support of our board of directors and management team.”
Founded in 1994, Imaflex produces polyethylene films and flexible packaging solutions, including barrier and metallised films, for customers in the industrial, agricultural, food and consumer sectors.
The company runs manufacturing sites in Canada and the US.
Soteria, a portfolio company of private equity firm TJC, specialises in short-run, custom flexible packaging and high-performance films.
Its products serve end markets such as food, healthcare, industrial and consumer applications. Soteria operates eight manufacturing facilities across North America.
