MONTREAL, Aug. 29, 2016 /CNW Telbec/ - Supremex Inc. ("Supremex" or the "Company") (TSX: SXP), a leading North American manufacturer and marketer of a broad range of stock and custom envelopes and growing provider of packaging and specialty products, today announced it has acquired substantially all of the assets of Bowers Envelope Company Inc., a manufacturer and printer of envelopes based in Indianapolis, Indiana.
"This acquisition, while relatively small, aligns with our strategy to extend our reach in key markets and to expand our value added offering in packaging and specialty products," said Stewart Emerson, President and CEO of Supremex. "Bowers Envelope is a well-known brand strategically located less than 300 kms from Chicago at 'The Crossroads of America" in a robust envelope market and a major hub for e-commerce distribution."
"We believe our cross-country Canadian operations, our Massachusetts, New York and now Mid-West facilities' capabilities and scale, allows us to be a bona fide regional player in the U.S. Market. With the addition of Bowers Envelope, Supremex is now well-positioned to serve approximately 60% of the U.S. envelope market," added Mr. Emerson.
Founded in 1928, Bowers Envelope Company Inc. employs approximately 50 people at its 75,000-square-foot facility located in Indianapolis, Indiana. In 2015, Bowers generated approximately US$8.5 million in revenues from the sale of stock and custom envelopes through a variety of sales channels. Mike Daniel, the current General Manager and a graduate of the Harvard Business School, will continue to lead the local operation and its team of skilled and talented individuals.
"We are excited to join the Supremex organization. Their operational record speaks for itself and we have been impressed by their focused and respectful approach. Their reputation is well-earned and we are looking forward to positioning Supremex as a strong regional player in the United States," said Mike Daniel, General Manager Bowers Envelope.
Supremex Inc. is a leading North American manufacturer and marketer of a broad range of stock and custom envelopes and growing provider of packaging and specialty products. Supremex is the only national envelope manufacturer in Canada, with facilities across seven (7) provinces and three (3) facilities in the United States and employs approximately 700 people. Supremex' growing footprint allows it to efficiently manufacture and distribute products tailored to the specifications of major corporations, national resellers, government entities, as well as paper merchants, statement processors and solutions providers. For more information, please visit www.supremex.com.
SOURCE Supremex Inc.
For further information: Benoît Crowe, CPA, CA, Vice-President, Finance, (514) 595-0555