Soteria Flexibles has entered into a definitive agreement to acquire all issued and outstanding common shares of Imaflex in an all-cash transaction. Upon completion of the deal, Imaflex will become a privately held company and its shares will be delisted from the TSX Venture Exchange.
Under the terms of the agreement, Soteria will pay CAD 2.35 per share in cash. The transaction values Imaflex at an equity value of approximately CAD 123 million. The acquisition will be implemented through a plan of arrangement under the Canada Business Corporations Act.
The transaction is subject to customary closing conditions, including approval by Imaflex shareholders and required regulatory approvals. The deal is expected to close in the first quarter of 2026.
Imaflex’s board of directors has unanimously approved the transaction and recommended that shareholders vote in favor of the arrangement. The company’s management has also expressed support for the transaction.
Imaflex is headquartered in Montreal, Quebec, and manufactures flexible packaging films and related solutions. The company operates manufacturing facilities in Canada and the United States.
Soteria Flexibles is a US-based manufacturer specializing in short-run flexible packaging solutions, with manufacturing operations across North America. The company stated that the acquisition is intended to expand its manufacturing footprint and enhance its technical capabilities and product offerings in the flexible packaging market.
