Deloitte Fast Tracks Restructuring in the Packaging Space
Film Division of CPI Plastics Group Ltd. sold to Mid-America Bag LLC
Deloitte Financial Advisory Services LLP (Deloitte FAS) is pleased to announce its role in advising Deloitte & Touche Inc. Canada (Deloitte Canada) in its role as court appointed interim receiver and manager of CPI Plastics Group Ltd. (CPI), in the sale of the assets of CPI’s Film Division to Mid-America Bag LLC.
Deloitte Canada engaged Deloitte FAS for their industry, restructuring and U.S. bankruptcy proceedings experience. The Deloitte FAS team leveraged its knowledge of the flexible packaging space to advise and assist with the sale process for the assets of CPI’s film business. In addition, Deloitte FAS assisted Deloitte Canada with the restructuring of the business and advised on issues related to U.S. bankruptcy proceedings.
The sale highlights Deloitte FAS’s experience in the paper, plastic, and packaging sector and is another example of assisting a distressed company in successfully restructuring.
CPI Plastics Group Limited is a film extruder and plastics profiler serving retail consumer and building products markets, and original equipment manufacturers in North America.
The Film Division of CPI is a leader in the manufacture and supply of consumer and institutional trash bags, food storage bags and waste management solutions, serving both the United States and Canada. The division manufactures products for a number of the world’s largest retailers under its own Maximum and Optimum brands, in addition to private label store brands.
As used in this document, “Deloitte” means Deloitte Financial Advisory Services LLP and Deloitte & Touche Inc. Canada. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.