Attorneys in the Corporate practice group at Harter Secrest & Emery recently worked with a team at Cascades Inc, to help Cascades acquire assets to improve its position in the strategic fresh protein and food services packaging markets. The acquisitions will allow Cascades to double its production capacity of ecological packaging manufactured in moulded pulp. The total cost of the transaction amounts to US$37.4 million. The acquired manufacturing plants are Urban Forest Products and Clarion Packaging respectively located in Brook, Indiana and Clarion, Iowa; two of the top three egg-producing states in the U.S. The plants manufacture moulded pulp protective packaging that primarily serves the egg and quick service restaurant industries and have a combined workforce of just over 150 employees. Cascades also acquired a majority interest in Falcon Packaging, a leader in the distribution of egg packaging which has 31 employees in Ohio, Iowa and Georgia.
Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs 11,000 women and men, who work in over 90 production units in North America and Europe.
The Harter Secrest & Emery team, that provided assistance in structuring the transaction and negotiating and drafting the transaction documents, was led by Phillip A. Delmont, and included Nicholas S. Gatto, John A. Anderson, Donald E. Snyder, Jr., John W. (Jack) Brill, and Thomas H. Tierney.
For more information on the Cascades acquisition, please click here to read their press release.