Under the terms of the agreement, Soteria will acquire all issued and outstanding common shares of Imaflex for CAD $2.35 per share in cash, representing total equity value of approximately CAD $123 million. Upon completion of the transaction, Imaflex will become a privately held company.
"This transaction is a natural fit for Soteria," said Brad Herbolsheimer, Chief Executive Officer of Soteria Flexibles. "Imaflex brings deep technical expertise, strong customer relationships, and a highly capable team that aligns closely with our culture and strategic priorities. Together, we are building a stronger, more diversified flexible packaging platform with enhanced scale, capabilities, and geographic reach."
Imaflex has established a strong reputation for delivering innovative polyethylene films and packaging solutions across industrial, agricultural, food and consumer markets, supported by advanced manufacturing capabilities in both Canada and the United States.
"We have long respected Imaflex for its disciplined approach to manufacturing, customer-centric mindset and commitment to innovation," Herbolsheimer continued. "This combination meaningfully expands our North American footprint and strengthens our ability to serve customers with speed, reliability and technical excellence. Just as importantly, we share a strong cultural alignment, and our focus will be on supporting our teams and customers as we integrate thoughtfully and responsibly."
Joe Abbandonato, Executive Chairman of Imaflex commented: "this transaction positions our business for long-term success by leveraging the resources and scale of the combined entities, creating a stronger growth platform, and opening new opportunities for employees. It has the full support of our board of directors ("Board") and management team."
"As we join forces, what excites me most is the strong cultural alignment and shared values between our organizations," commented Stephan Yazedjian, President and CEO of Imaflex. "In an industry that remains highly fragmented, this transaction represents a natural consolidation that will create a stronger and more resilient platform. By combining our complementary strengths, we will not only enhance value for clients but also open new avenues for suppliers and employees alike to grow and innovate. Together, we are building a business with greater scale, reach, and opportunity—well positioned to thrive in a dynamic and expanding market."
The transaction was unanimously approved by Imaflex's board of directors, which has recommended that Imaflex shareholders vote in favor of the transaction. The acquisition is expected to close in the first quarter of 2026, subject to customary closing conditions, including applicable regulatory and shareholder approvals.