The acquisition represents another step in Inovar’s strategic growth plan as the company broadens its national platform and invests in differentiated labeling and packaging technologies.
Founded in 1992 and based in Manchester, UK, Cheshire Anilox Technology Ltd. has built a strong reputation for manufacturing high-quality, laser-engraved ceramic anilox rolls.
By fusing the acquired brittle lidding material technology with the TOPPAN Group’s barrier and packaging technologies, TOPPAN Holdings is aiming to advance a full-scale entry into the global push-through blister pack market.
Under the terms of the agreement, Soteria will acquire all issued and outstanding common shares of Imaflex for CAD $2.35 per share in cash, representing total equity value of approximately CAD $123 million. Upon completion of the transaction, Imaflex will become a privately held company.
The transaction, which has been unanimously approved by Sealed Air’s Board of Directors, is expected to close in mid-2026, subject to the receipt of stockholder approval, regulatory clearances and the satisfaction of other customary closing conditions.
With the addition of QAL, CastlePierce gains enhanced expertise in labels and specialty packaging—while customers of both companies benefit from expanded packaging mediums, extended content labels (ECL), blister card packaging and the strength of a well-established, legacy family business.
The purchase price consists of $650 million on a cash-free and debt-free basis payable at closing, and additional consideration of up to $75 million (“additional consideration”) if certain performance measures for calendar year 2025 are met.
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