12.03.2014

Transcontinental to acquire Capri Packaging for $133m

Canadian media and marketing activation solutions provider Transcontinental is set to purchase the assets of the US-based printed flexible packaging supplier Capri Packaging, a division of Schreiber Foods, in a deal worth $133m. 

As per the deal, Transcontinental will acquire two Capri facilities located at Clinton in Missouri that employ about 200 people and generate nearly $72m in annual revenues. Scope of the transaction, subject to regulatory approval in US, also includes a 10-year agreement signed by Schreiber to secure Capri as a supplier of printed flexible packaging that represents about 75% of Capri's total revenues.

Transcontinental president and CEO François Olivier said the transaction indicates a key step towards entering into a new flexible packaging market. "It is part of our strategy to ensure our future growth path through diversification," Olivier added. "The printed flexible packaging industry was rapidly identified as a natural fit given that the production process is very similar to TC Transcontinental's printing operations and the market offers many opportunities for growth."


Related News


No existen noticias en esta lista.