Supremex Announces Acquisition of Classic Envelope Inc. and Strengthens Its Presence in the USA
MONTREAL - Supremex Inc. ("Supremex" or the "Company") (TSX: SXP), Canada's largest manufacturer and marketer of a broad range of stock and custom envelopes and growing provider of packaging and specialty products, today announced it has acquired all of the outstanding shares of Classic Envelope Inc., a growing manufacturer and printer of envelopes and letterhead based in Massachusetts and servicing the greater Boston and New York City areas.
"This acquisition is part of our long-term strategy to extend our reach in key markets and to expand our value added offering in packaging and specialty products," said Stewart Emerson, President CEO of Supremex. "Classic Envelope is a premium brand in one of the largest and most attractive envelope markets in the U.S. With our scale and capabilities, and their proximity to our Montreal and Toronto facilities, Classic will now have the resources to build on its outstanding reputation."
Founded in 1988 by the DeCaro family and Paul "Chip" Lord, Classic Envelope Inc. employs approximately 85 people at its 150,000 square foot facility located in Douglas, Massachusetts. In 2014, Classic generated approximately $13 million USD in revenues from the sale of stock and custom envelopes and letterhead, primarily through various re-sale channels. Peter DeCaro, a third-generation envelope veteran, will continue to lead Classic Envelope Inc. and its team of skilled and talented individuals.
"We are excited to be joining the Supremex family at this time. Our values and business outlook are very similar, and with the resources of one of the largest and most financially stable envelope manufacturers in North America we are looking forward to growing the business that my family built," added Peter DeCaro, General Manager, Classic Envelope.
About Supremex
Supremex Inc. is Canada's largest manufacturer and marketer of a broad range of stock and custom envelopes and growing provider of packaging and speciality products. Supremex is the only national envelope manufacturer in Canada, with facilities across seven provinces and two in the United States and employs approximately 550 people. Supremex's growing footprint allows it to efficiently manufacture and distribute products tailored to the specifications of major corporations, national resellers, government entities, as well as paper merchants, statement processors and solutions providers. For more information, please visit www.supremex.com.
SOURCE Supremex Inc.
CONTACT: Benoît Crowe, CPA, CA, Vice-President, Finance, (514) 595-0555
Web Site: http://www.supremex.com
