Intertape Polymer Group® Acquires TaraTape® for $11 Million
Intertape Polymer Group Inc. recently announced it has acquired RJM Manufacturing Inc. (TaraTape). TaraTape revenue for the previous fiscal year was approximately $20 million. The purchase price of $11 million was reportedly financed with funds from the company’s revolving credit facility.
“We believe this acquisition in the filament tape industry will strengthen our market position mainly in filament tapes and provide many opportunities for operational synergies,” said Greg Yull, president and CEO, Intertape Polymer Group. “This is our second acquisition this year which affirms our commitment to create value for our shareholders through our mergers and acquisitions program. As previously indicated, we intend to continue our pursuit of other strategic opportunities.”
For more information, visit www.itape.com or www.taratape.com.