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M&A / Property

Cascades to sell Richmond plant to Crown for $65.5M

By The Northwire Desk — AI Analysis Jan 29, 2026 · 20:58 CAS · 12.97 Cascades Inc
CAS · Price

Executive Summary

  • Cascades Inc. has entered into an agreement to sell its corrugated packaging plant in Richmond, British Columbia, to Crown Paper Group for a total value of $65.5 million.
  • The transaction includes real estate assets and is subject to working capital adjustments and the assumption of certain liabilities, with completion expected in the coming days.
  • The sale aligns with Cascades' strategic objectives to optimize operations, reduce debt, and allocate capital to core markets, while ensuring a seamless transition for employees and customers.

Key Details

  • Transaction Value: $65.5 million (including real estate assets).
  • Buyer: Crown Paper Group.
  • Seller: Cascades Inc.
  • Asset Sold: Corrugated packaging plant located in Richmond, B.C.
  • Closing Conditions: Subject to customary closing conditions, working capital adjustments, and assumption of certain liabilities.
  • Strategic Rationale (Cascades):
    • Optimize operations and reduce debt.
    • The Richmond plant had limited integration and synergy potential within Cascades' operational network.
    • Allows monetization of valuable real estate assets without materially impacting the cash flow profile of the packaging sector.
  • Strategic Rationale (Crown):
    • Expands Crown's operations in the region.
    • Aligns with Crown's current footprint and long-established presence in British Columbia.
    • Provides integrated paper supply and complementary product/service offerings.
  • Transition: Cascades will work closely with Crown to support an orderly transition with customers, employees, and suppliers.

Notable Quotes

  • Hugues Simon, President and CEO of Cascades: "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 plant. It allows to monetize valuable real estate assets while not impacting materially the cash flow profile of our packaging sector."
  • Rob Kreizenbeck, CEO of Crown Paper Group: "Acquiring the Richmond box plant is an important milestone in Crown's continued expansion, furthering the integration of our mill and box operations to provide our customers with exceptional service and product offerings."
Read the original news release →

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