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Canadian packaging solutions provider Gelpac has announced the strategic acquisition of Standard Bag. Standard Bag manufactures industrial and food grade multiwall and wovenpoly laminated bags to handle raw materials and finished products suitable for use in the agrifood, pharmaceutical and industrial markets. Gelpac confirmed the acquisition in a LinkedIn post:

According to Gelpac, Namakor Holdings was the strategic support provider for this deal and was responsible for managing the negotiations, which led to the financing by CDPQ, W Investments and a banking syndicate led by the National Bank of Canada. Gelpac's CEO Alain Robillard said: "The acquisition of efficient western and south-western production plants further strengthens our competitive position in North America. By combining the strengths of each of our plants, by integrating our respective R&D initiatives, ongoing innovations to the manufacturing processes and procurement strategies, as well as extending our geographical reach, we will offer the best-performing packaging solutions in the market." He added: "Having itself grown from a family operation, Gelpac has always remained true to its core values of treating each client and team member with integrity and respect. As such, the cultural fit can not be any tighter. The orderly transfer of ownership and the smooth integration of the Standard Bag team will ensure the continuity of operations." "The addition of this complementary production capacity to our comprehensive products portfolio will allow us to provide our North American clients with even greater value. We look forward to working with the new members of our team to reach ever-higher levels of excellence." Terms of the transaction were not disclosed.