On November 16, 2018, Allcard Ltd. (“Allcard”) has entered into a definitive agreement with CPI Card Group Inc. (“CPI”) (Nasdaq: PMTS; TSX: PMTS) to purchase its Canadian subsidiary. Some portion of the Canadian secure card business is expected to transition to CPI’s operations in the U.S., and the remaining secure card business will transition out.
Established in 2002 and based in Cambridge, Ontario, Allcard has branch offices in the GTA, Manitoba and BC. Allcard’s Carteplus division provides French-focused services to Quebec and the Maritimes. Personalized customer solutions, dynamic product innovation and an all-in service offering have positioned Allcard as a leading gift and loyalty card producer in North America.
Miller Thomson advised Allcard with respect to this transaction with a team led by Michael Henley and Eric Schneider, and included Robyn Burns (Corporate/M&A) and Kim Ozubko (Pensions).