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 Fran├žois 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."

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