The flexible packaging and speciality paper specialist said the deal would support continued growth and provide technical and manufacturing capabilities.
Groupe De Luxe is a flexible packaging manufacturer for markets including bakery, dairy and confectionery and has facilities in Montreal, Toronto, Chicago and Saugerties, New York.
Roger Prevot, Packaging Dynamics' chief executive officer, said the takeover would support continuing growth in new geographies, products and end-markets.
“The combination provides Packaging Dynamics with a number of strategic benefits including broader technical and manufacturing capabilities, a number of well respected brands, an expanded customer base and a more balanced manufacturing platform.”
Richard Goulet, president, Groupe De Luxe, said: "We believe that Packaging Dynamics has the resources and commitment necessary to support the De Luxe growth strategy which is based on our long-standing philosophy of delivering highly responsive and innovative packaging solutions to our customers."