Intertape expands brand with $63 million acquisition

Intertape Polymer Group Inc., a packaging company that formerly had its U.S. headquarters in Manatee County, announced it will pay $63 million to acquire one of its rivals.

Intertape, a Canadian company which in 2013 moved its U.S. executive offices from Bradenton to Sarasota, entered an agreement to purchase Montreal-based Canadian Technical Tape Ltd.

In a news release announcing the acquisition, Intertape officials said the deal will extend the company’s product offerings and provide additional distribution channels for products in the U.S., Canada and Europe.

The transaction is expected to close in the third quarter of 2017.

This story was originally published June 13, 2017 at 1:03 PM with the headline "Intertape expands brand with $63 million acquisition."