IPL Plastics Inc. (TSX:IPLP) entered into a share purchase agreement to acquire Loomans Group NV for $85.5 million on March 15, 2019. The transaction is being financed from existing cash and credit facilities. Loomans will be integrated into IPL Plastics Inc.'s Consumer Packaging Solutions business in Europe. Loomans reported an annual EBITDA of $11.1 million and revenues of $57 million in 2018. The transaction is subject to closing conditions and is expected to complete by the end of March 2019. Michel Bonne, Hannelore Matthys, Sara Beutels and Sarah Arens of Van Bael & Bellis of Van Bael & Bellis acted as the legal advisor to IPL Plastics Inc. IBI Corporate Finance Limited acted as financial advisor for IPL Plastics. IPL Plastics Inc. (TSX:IPLP) completed the acquisition of Loomans Group NV on March 28, 2019. The transaction will be earnings accretive.