Business
Cascades announces the sale of its Richmond, British Columbia, packaging plant to Crown Paper Group
Cascades announces the sale of its Richmond, British Columbia, packaging plant to Crown Paper Gro...
About this update from Cascades Inc.
[{"type":"text","content":"\n\n\nCascades announces the sale of its Richmond, British Columbia, packaging plant to Crown Paper Group\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\nCanada NewsWire\n\n\nKINGSEY FALLS, QC, Jan. 29, 2026 /CNW/ - Cascades Inc. (TSX: CAS) announces that it has entered into an agreement with Crown Paper Group (\"Crown\") for the sale of its corrugated packaging plant located in Richmond, British Columbia, for a total value of $65.5 million, including the real estate assets and subject to working capital adjustments and the assumption of certain liabilities. The transaction is expected to be completed in the coming days, subject to customary closing conditions and adjustments.\n\n\n\n\n\n\n\nIn view of Cascades' commitment to optimize its operations and reduce its debt, the sale of the Richmond plant emerged as a mutually beneficial outcome for both Cascades and Crown. Given its geographic position, the Richmond plant offered limited integration and synergy potential within Cascades' operational network, but aligns with Crown's current footprint, expanding its operations in the region.\nWith a long-established presence in British Columbia and nearly a century of operating an integrated containerboard mill in Port Townsend, Washington, Crown is a natural long-term fit for the Richmond plant, providing integrated paper supply and complementary product and service offerings. The transaction ensures a seamless transition to an operator with deep roots in British Columbia and a commitment to continued investment in the plant and its capable team. Crown looks forward to welcoming the dedicated workforce, serving its longstanding customers and further deepening its presence across the region.\nCascades will work closely with Crown to support an orderly transition with customers, employees, and suppliers.\n\"Cascades is committed to improving profitability and optimizing its operational platform by allocating capital to its core markets. This transaction with Crown Paper Group supports the achievement of Cascades' strategic objectives while preserving the prospects of the Richmond...