MONTREAL, July 29, 2020 (GLOBE NEWSWIRE) — IPL Plastics Inc. (“IPLP” or the “Company”) (TSX: IPLP) today announced that it has entered into an arrangement agreement (the “Arrangement Agreement”) to be acquired by Intelligent Packaging Limited Purchaser Inc. (the “Purchaser”), an entity controlled by funds (the “MDP Funds”) managed by Madison Dearborn Partners, LLC (“MDP”), a Chicago-based private equity firm.  Under the terms of the Arrangement Agreement, subject to shareholder and other customary approvals, the Purchaser will acquire at C$10.00 in cash per share (the “Purchase Price”) all of the issued and outstanding common shares (the “Shares”) of IPLP.  The Purchase Price represents a 49% premium to the IPLP closing share price on July 28, 2020, a 69% premium to the 20-day volume-weighted average price per share for the period ending on July 28, 2020, and a 153% premium to the closing price on May 15, 2020, the last trading day prior to media reports concerning a potential acquisition. The transaction values IPLP at C$555 million on an equity basis and at C$981 million on an enterprise basis.

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