Eco-friendly packaging solutions provider Cascades has agreed to sell its flexible packaging plant in Mississauga, Ontario to US-based Five Star Holding.
The C$31m ($22.23m) deal takes effect immediately.
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Cascades will retain ownership of the site real estate.
The Mississauga facility is the sole location in which Cascades produces printed flexible plastic packaging and films.
Upon the completion of the sale, the 45 employees working in the flexible packaging division will be transferred to Five Star.
The agreement encompasses provision for the ongoing manufacture and delivery of the flexible film utilised by Cascades in its tissue and packaging operations.
The divestment is part of Cascades’ plan to focus on its core business areas and optimise its operational structure.
Cascades president and CEO Hugues Simon stated: “Today’s decision will allow us to reduce our debt and support the optimisation of our operational platform to grow our strategic sectors.
“We are pleased to have found in Five Star a buyer committed to maintaining and developing the plant’s activities.”
Five Star CEO Alex Huis In ‘T Veld stated: “This acquisition will accelerate our growth in sustainability focused packaging for consumer, food and beverage markets in Canada and throughout North America.”
In July 2025, Cascades revealed its decision to close its corrugated medium production site in Niagara Falls, New York, as part of efforts to refine its packaging manufacturing framework.
Established in 1964, Cascades operates 65 facilities across North America, employing 9,500 people.
