- Induspac includes the GAB Packaging plant in Candiac, the JP Carton plant in Longueuil, and the Smith Packaging plants in Ottawa and Mississauga
- The company’s 1,000 clients are drawn mainly from the manufacturing industry in Quebec and Ontario
- National Bank Private Investment is an affiliate of National Bank of Canada
National Bank Private Investment has acquired a stake in Induspac Group, a Canadian designer and manufacturer of customized industrial packaging.
No financial details of the transaction were disclosed.
Induspac includes the GAB Packaging plant in Candiac, the JP Carton plant in Longueuil, and the Smith Packaging plants in Ottawa and Mississauga. It has been in business for over 50 years and is headed by Luc Guertin. It employs more than 300 people and has about 400,000 square feet of manufacturing facilities. The company’s 1,000 clients range from small businesses to large multinationals and are drawn mainly from the manufacturing industry in Quebec and Ontario.
“By making this investment and becoming a shareholder, we will be able to maximize the company’s development and position ourselves in the recyclable packaging sector, which has high growth potential,” said Luc Ménard, executive vice president, managing director and head of private investments at National Bank.
National Bank Private Investment, an affiliate of National Bank of Canada, manages the National Bank SME Growth Fund.
National Bank is an integrated financial services group with C$418 billion in assets managed as of 30 April 2023. It has its headquarters in Montreal.