Kruger Products L.P. has completed the acquisition of all of Metro Paper Industries Inc.'s (MPI) Canadian tissue converting assets, located in Trenton, Ont., and Scarborough, Ont., for a total cash consideration of $23.5 million. The deal includes Metro's entire North American Away-From-Home (AFH) customer base as well as a non-compete agreement. Metro's revenues in 2013 were approximately $65 million, split equally between the U.S. and Canada.
“We are excited about the opportunity to add the complementary product lines to our growing AFH business and this acquisition will immediately provide much needed additional capacity. As the AFH market leader in Canada, we are committed to building on our leadership position and driving our company forward," said Mario Gosselin, CEO, KPLP.
Kruger Products L.P. is a Canadian manufacturer of tissue products for household, industrial and commercial use
Metro Paper Industries is a privately-held manufacturer of recycled paper products. According to the company's web site, it operates a paper mill in Portneuf, Que., and supplies a wide range of disposable paper products, including table napkins, towels, tissue, lunch bags and placemats.