Intertape Polymer Group (IPG®) Completes Transaction to Acquire Cantech®

Intertape Polymer Group Inc. (TSX:ITP) (“IPG” or “the Company”) announced the completion on July 1 of the previouslyannounced transaction to acquire substantially all of the assets of Canadian Technical Tape Ltd. (d/b/a “Cantech”), a North American supplier of industrial and specialty tapes based in Montreal. The expected aggregate purchase price is approximately $67 million (as updated from the previously-communicated purchase price of $63 million due to certain purchase price adjustments), subject to further post-closing adjustments. All amounts in this press release are denominated in US dollars.

The Cantech acquisition will further enhance and extend the Company’s product offering, and provide additional distribution channels for IPG products in Canada, the US, and Europe. The purchase price was financed with funds available under IPG’s revolving $450 million credit facility.
https://www.itape.com/investor%20relations/press%20releases%20and%20reports

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