Intertape Polymer Group Inc. is acquiring RJM Manufacturing Inc., a maker of filament and pressure sensitive tapes, in an $ 11 million deal.
RJM Manufacturing does business as TaraTape, and had revenue of about $ 20 million for its most recent fiscal year, Intertape said.
“We believe this acquisition in the filament tape industry will strengthen our market position mainly in filament tapes and provide many opportunities for operational synergies,” Intertape CEO Greg Yull said in a statement.
“This is our second acquisition this year which affirms our commitment to create value for our shareholders through our mergers and acquisitions program. As previously indicated, we intend to continue our pursuit of other strategic opportunities,” Yull continued.
Intertape, which has corporate offices in Montreal and Sarasota, Fla., previously acquired Better Packages Inc. of Ansonia, Conn., a maker of table-top water-activated tape and dispensers used for carton sealing.
TaraTape makes a broad range of pressure sensitive adhesive tapes primarily used for industrial packaging. The company has manufactured adhesive coated films and tapes since 1987 and is located about 20 miles north of Philadelphia.
Intertape makes film- and paper-based pressure sensitive and water-activated tapes, polyethylene and specialized polyolefin films, woven coated fabrics and packaging systems for industrial and retail use. The company has 16 sites, including 11 manufacturing locations in North America and one manufacturing site in Porto, Portugal.
Intertape ranks No. 25 in Plastics News’ most recent survey of North American film & sheet manufacturers.