Intertape Polymer has acquired pressure sensitive adhesive tapes producer RJM Manufacturing (TaraTape), effective 2 November this year.
The acquisition is valued at around $11m and it was financed with funds from the company's revolving credit facility.
Based in Fairless Hills, Pennsylvania, TaraTape manufactures and markets pressure sensitive adhesive tapes for industrial packaging and specialty applications.
With around 55 employees, TaraTape also offers MOPP/strapping, printed carton sealing tape and other ancillary products.
TaraTape generated close to $20m in revenue for the most recently completed fiscal year.
Intertape Polymer president and CEO Greg Yull 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.
"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."
Intertape Polymer employs close to1,950 people across its operations in 16 locations, including 11 manufacturing facilities in North America and one in Europe.
The company produces a wide range of paper and film based pressure-sensitive and water-activated tapes, polyethylene and specialized polyolefin films, woven coated fabrics and complementary packaging systems for industrial and retail use.
