Supremex Announces Acquisition of Premier Envelope, and Strengthens Operations in Western Canada
MONTREAL Â - 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 substantially all of the assets of Premier Envelope Ltd and affiliated operating entities, an established manufacturer of stock and custom envelopes, principally operating in Western Canada.
"Premier Envelope is a tier-one envelope supplier with outstanding manufacturing capabilities and strong complimentary customer relationships to Supremex' existing customer base in Western Canada," said Stewart Emerson, President CEO of Supremex. "With immediate synergies, this transaction enhances our go-to-market wherewithal, significantly elevates our manufacturing capabilities in Western Canada and improves our ability to unlock capacity in Eastern Canada to support our growth strategy in the United States via our Buffalo Envelope and Classic Envelope platforms."
Premier Envelope employs approximately 70 people and generated approximately $12 million CAD in annual revenues from the sale of stock and custom envelopes, both directly and through a network of distributors, to financial institutions, large and small businesses, government organizations, commercial printers and mailing houses, primarily located in Western Canada. Premier Envelope has 2 principal manufacturing locations in Richmond, British Columbia and Edmonton, Alberta and also operates a satellite plant in Mississauga, Ontario.
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 specialty products. Supremex is the only national envelope manufacturer in Canada, with facilities across seven (7) provinces and two (2) facilities in the United States and employs close to 650 people. Supremex' 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: Benoit Crowe, CPA, CA, Vice-President, Finance, (514) 595-0555
Web Site: http://www.supremex.com Â
