16:35:50 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Supremex Inc
Symbol SXP
Shares Issued 25,347,669
Close 2024-05-01 C$ 3.98
Market Cap C$ 100,883,723
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Supremex acquires Forest Envelope for $1.8M (U.S.)

2024-05-01 18:59 ET - News Release

Mr. Stewart Emerson reports

SUPREMEX ANNOUNCES THE ACQUISITION OF FOREST ENVELOPE GROUP

Supremex Inc. has acquired the assets of Forest Envelope Group. Founded over 40 years ago, Forest Envelope is a regional leader in specialty envelope manufacturing located in Bolingbrook, Ill., in the greater Chicago area. The transaction was concluded for total consideration of approximately $1.8-million (U.S.) on a cash-free and debt-free basis, subject to customary adjustments, financed through the company's existing credit facility.

"The acquisition of Forest Envelope is an excellent fit with our current operations in the U.S. Midwest region," said Stewart Emerson, president and chief executive officer of Supremex. "Forest Envelope has a solid reputation for providing high-quality products, top-tier customer service and on-time delivery. Given its close proximity to our existing plants in Naperville and Chicago, we intend to integrate Forest Envelope's activities into these facilities over the next 90 days. The transition should be seamless for customers and, in fact, provide them access to additional capacity and a significantly broader product offering. We expect this tuck-in operation to rapidly yield synergies within our U.S. envelope network."

About Supremex Inc.

Supremex is a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions. Supremex operates 10 manufacturing facilities across four provinces in Canada and six manufacturing facilities in four states in the United States, employing approximately 1,000 people. Supremex's growing footprint allows it to efficiently manufacture and distribute envelope and packaging solutions designed to the specifications of major national and multinational corporations, direct mailers, resellers, government entities, small- and medium-sized enterprises, and solution providers.

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