IPG acquires TaraTape for $11 million

Intertape Polymer Group Inc. has scooped up RJM Manufacturing, Inc. (d/b/a "TaraTape") for a purchase price of $11.0 million.

Headquartered in Montreal and Sarasota, Florida, IPG is a manufacturer 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.

TaraTape specializes in filament and pressure-sensitive adhesive tapes used for industrial applications based in Fairless Hills, Pennsylvania.

TaraTape employs approximately 55 people and netted revenue of $20 million in the most recently completed fiscal year.

“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,” said Greg Yull, the company's president and CEO. “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.”