Cascades Sells Flexible Packaging Plant Activities to Five Star for C$31 Million

Cascades has agreed to sell its Flexible Packaging plant activities in Mississauga, Ontario, to Houston-based Five Star Holding for C$31 million, effective immediately. This plant is Cascades' only facility manufacturing printed flexible plastic packaging and films. Cascades President and CEO Hugues Simon described the sale as a strategic move to reduce debt and optimize operations, while retaining site real estate. Five Star will retain all 45 employees and intends to grow the plant’s activities, focusing on sustainable packaging solutions for consumer, food, and beverage markets. The acquisition aligns with Five Star’s vertically integrated business model spanning extrusion, recycling, printing, and converting. Cascades and Five Star will maintain a supply agreement to ensure continued flexible film production supporting Cascades’ Tissue and Packaging sectors. This transaction enables Cascades to concentrate on key strategic sectors while advancing operational efficiency.