IPL Plastics Inc. (“IPLP” or the “Company”) (TSX: IPLP) today announced that it has entered into an arrangement agreement (the “Arrangement Agreement”) to be acquired by Intelligent Packaging Limited Purchaser Inc. (the “Purchaser”), an entity controlled by funds (the “MDP Funds”) managed by Madison Dearborn Partners, LLC (“MDP”), a Chicago-based private equity firm.