Latest news with #RichardsPackagingInc
Cision Canada
a day ago
- Business
- Cision Canada
Richards Packaging Income Fund announces acquisition of DermapenWorld®
TORONTO, June 2, 2025 /CNW/ - Richards Packaging Income Fund (TSX: (the "Fund") announces today a strategic acquisition to add to its healthcare line up. The Fund, through its subsidiaries Richards Health Group Pte. Ltd. and Richards Packaging Holdings US Inc., has acquired all of the outstanding shares and assets of the DermapenWorld Group of Companies ("DermapenWorld ®"), an Australian based leading global provider of microneedling devices and dermatological cosmetics. The purchase price of US$40.0 million ($55.0 million) was financed by a US$36.3 million ($49.9 million) draw down on a new term credit facility and a US$3.7 million ($5.1 million) holdback from the vendor. This purchase price is subject to additional consideration contingent on DermapenWorld's future earnings through 2025 and 2026. "After years acting as the Canadian distributor for the DermapenWorld ® product line, we are pleased to be fully joining forces within the Richards Healthcare portfolio. The global strength of the DermapenWorld ® brand and product line is complemented by our organically developed Luvo line and the recently acquired WorldPRP ®. We look forward to working together with the team in Sydney and around the world to grow together in the coming years." commented John Glynn, CEO of Richards Packaging NewPoint Capital Partners acted as M&A advisor to the Fund. About Richards Packaging Income Fund The Fund owns Richards Packaging Inc. ("Richards Packaging"), which since 1912 has served a wide customer base throughout North America comprised of over 18,000 regional food, beverage, healthcare, cosmetics, and other enterprises. About The DermapenWorld ® Group of Companies DermapenWorld ® is a leading global provider of microneedling devices and dermatologic cosmetics, primarily targeting the aesthetic medicine industry. The company has a long history of specialized development of microneedling products and a more recent move into cosmetics that complement the core microneedling treatments. The company sells globally through a network of third-party distributors. SOURCE Richards Packaging Inc.
Cision Canada
20-05-2025
- Business
- Cision Canada
RICHARDS PACKAGING INCOME FUND ANNOUNCES MAY 2025 DISTRIBUTION
TORONTO, May 20, 2025 /CNW/ - Richards Packaging Income Fund (TSX: (the "Fund") announced today its cash distribution for the month ended May 31, 2025 of Cdn$0.11 per unit. This distribution will be to unitholders of record at the close of business on May 30, 2025 and will be payable on June 13, 2025. Unitholders who are non-residents of Canada may be required to pay all withholding taxes payable in respect of any distributions of income by the Fund, whether such distributions are in the form of cash or additional units. About Richards Packaging Income Fund The Fund owns Richards Packaging Inc. which since 1912 has served a wide customer base throughout North America comprised of over 18,000 regional food, beverage, cosmetics, healthcare, and other enterprises. SOURCE Richards Packaging Inc.
Cision Canada
02-05-2025
- Business
- Cision Canada
Richards Packaging Income Fund announces 2025 First Quarter Results
TORONTO, May 2, 2025 /CNW/ - Richards Packaging Income Fund (TSX: (the "Fund") announced today results for the quarter ended March 31, 2025. "The first quarter of 2025 was nothing if not eventful. With global macroeconomic volatility affecting both business and consumer sentiment, we at Richards are navigating with vigilance, flexibility, and an eye for opportunity. First quarter total revenue increased $2.8M from last year, breaking the recent trend of declines, while exceptional items and increases in lease and administrative costs resulted in a $3.6M decrease in Net Income. The packaging business transformation that was a focus of 2024 is now beginning to bear fruit. Food & Beverage packaging revenues grew 5% and Cosmetic packaging revenues grew 3% vs Q1'24. With a new pricing strategy and an ecommerce channel launch on the horizon this year, we look forward to the continued performance of this group. Healthcare capital remains under pressure as the general market softening cycle in private clinics that began in 2024 is exacerbated by risk-off sentiment driven by the global macro environment. We also continue to realize negative comps relating to the loss of the Parata business, which is expected to conclude in Q3. This is somewhat offset by consumables where we are proud of our efforts to manage mix and pricing for an improved gross margin profile. Healthcare revenues declined 2.7%. We welcomed HL Production and National Dental Innovations into the fold at the end of February, both tuck-in acquisitions to the Clarion platform. HL Production comes with global control of the WorldPRP® brand, which has been successful in Canada and we see growth opportunities alongside our Luvo® brand worldwide. National Dental gives us a foray into the dentistry market, which comprises nearly 30,000 dentists operating out of 16,000 clinics in Canada and has potential to become a significant vertical in coming years." commented John Glynn, Director and Trustee. The Fund paid monthly dividends of 11¢ per Unit, which represented an annualized yield of 4.9% on the March 31st closing price of $26.83 per Unit. Details of the Fund's results are currently available on Richards Packaging's website at and on SEDAR+ at The Fund owns Richards Packaging Inc. ("Richards Packaging") which since 1912 has served a wide customer base throughout North America comprised of over 18,000 regional food, beverage, cosmetics, healthcare, and other enterprises. SOURCE Richards Packaging Inc.
