Cascades has announced the sale of its Flexible Packaging plant in Mississauga, Ontario, to Five Star Holding, a packaging manufacturer based in Houston, Texas, for CAN$31 million.
The transaction, effective immediately, allows Cascades to streamline its operations and reduce debt, while retaining ownership of the site’s real estate.
The Mississauga facility, Cascades’ only plant producing printed flexible plastic packaging and films, employs 45 people—all of whom will be retained by Five Star. A supply agreement between the two companies ensures continued production of the flexible film used by Cascades’ Tissue and Packaging divisions, maintaining supply chain stability and business continuity.
“This decision will help us reduce our debt and optimize our operational platform to grow in our strategic sectors,” said Hugues Simon, President and CEO of Cascades. “We are pleased to have found in Five Star a buyer committed to maintaining and developing the plant’s activities, and we look forward to continuing our collaboration as one of their customers.”
For Five Star Holding, the acquisition aligns with its growth strategy in sustainability-focused packaging across North America.
“There was an immediate connection between our teams around manufacturing culture and shared focus on quality and safety,” said Alex Huis In ’T Veld, CEO of Five Star. “This acquisition will accelerate our growth in sustainable packaging for consumer, food and beverage markets throughout Canada and the U.S.”
The transaction underscores Cascades’ ongoing transformation, focusing its investments in core business segments such as packaging and tissue while partnering with companies that share its commitment to innovation and environmental responsibility.
Founded in 1964, Cascades offers sustainable, innovative, and value-added packaging, hygiene, and recovery solutions. The company employs approximately 9,500 people across 65 operating facilities in North America. Cascades’ shares trade on the Toronto Stock Exchange under the ticker CAS.
Headquartered in Houston, Texas, Five Star Holding designs and manufactures flexible packaging, printed films, and sustainability programs for the pet care, food and beverage, and consumer goods industries. Vertically integrated from extrusion and recycling to printing and converting, Five Star operates manufacturing sites in the U.S., Canada, Mexico, and Honduras.
