Transcontinental has completed the previously announced acquisition of flexible packaging producer Capri Packaging from Schreiber Foods for $133m.
According to Transcontinental, the acquisition will add around $72m revenues to the company.
Schreiber Foods has signed a ten-year agreement to secure Capri Packaging as a strategic supplier of flexible packaging, as part of the transaction.
Transcontinental president and CEO Franois Olivier said the acquisition represents a strategic move for the company into a new promising area, flexible packaging.
"The acquisition of Capri Packaging is an important milestone in our development and is an integral part of our strategy to ensure TC Transcontinental's profitable growth through prudent diversification," Olivier added.
Transcontinental specializes in print and digital media, the production of magazines, newspapers, books and custom content, mass and personalized marketing, interactive and mobile applications, and door-to-door distribution.
Image: The acquisition will add around $72m revenues to Transcontinental. Photo: Courtesy of Transcontinental Inc.
