SARASOTA — Intertape Polymer Group, a manufacturer of packaging products and machinery with dual headquarters in Montreal and Sarasota, acquired an $18 million Connecticut company that makes tape dispensers used in high-volume fulfillment centers.
The firm Intertape acquired is Ansonia, Conn.-based Better Packages, which makes products called water-activated tape dispensers. Terms of the deal weren't disclosed. The acquisition, according to a release, was financed with funds from IPG's revolving credit facility. The deal is expected to be accretive to IPG's earnings in 2015.
A water-activated tape dispenser, according to Better Packages, is an improvement over traditional tape and hand-held tape-guns because it makes the carton-sealing process easier. Better Packages' client list, according to its website, includes L.L. Bean, QVC and Cabela's. The firm, with more than 160 authorized domestic distributors and another 50 worldwide, was founded in 1917.
IPG manufactures reinforced and non-reinforced water-activated tape that can go in the Better Packages dispensers, the release states. The acquisition, the firm adds, further extends IPG's product offering and global presence in the rapidly growing e-commerce market. That's where fulfillment centers are full of packages.
“This acquisition marks an important milestone in an effort to support IPG's vertical marketing,” IPG President and CEO Greg Yull says in the statement. “I am pleased that Better Packages will be joining the IPG corporate family.”
Phil White, current CEO of Better Packages, will continue to manage Better Packages' operations, the release states. The firm's headquarters will remain in Connecticut.
Intertape Polymer manufactures and sells a variety of paper and film based, pressure sensitive and water activated tapes, polyethylene and specialized polyolefin films for industrial and retail use. The company has about 1,900 employees spread through 15 locations, including 10 manufacturing facilities in North America and one in Europe. It had $812.73 million in 2014 revenues.