Cascades sells Flexible Packaging plant to Five Star Holding for CAN$31 million
October 8, 2025Cascades Inc. has announced the sale of its Flexible Packaging plant operations in Mississauga, Ontario to Five Star Holding, a Houston-based packaging group, for CAN$31 million. The transaction takes effect immediately, with Cascades retaining ownership of the site’s real estate.
The Mississauga facility—Cascades’ only plant producing printed flexible plastic packaging and films—employs 45 workers, all of whom will remain with Five Star following the acquisition. The deal also includes a supply agreement to continue producing flexible film used in Cascades’ Tissue and Packaging divisions.
Cascades CEO Hugues Simon said the divestment supports the company’s strategy to reduce debt and focus on its core sectors, while ensuring a smooth transition for employees and customers. “We are pleased to have found in Five Star a buyer committed to maintaining and developing the plant’s activities,” Simon stated.
Five Star CEO Alex Huis In ’T Veld welcomed the acquisition as a step that will expand the company’s footprint in North America’s sustainable packaging markets. “There was an immediate connection between our teams around manufacturing culture and shared focus on quality and safety,” he said.
