Canadian printer purchases US packaging firm.
May 28, 2014
by Canadian Packaging Staff
On May 5, 2014, TC Transcontinental announced that it completed the acquisition of Capri Packaging, located in Clinton, Missouri (U.S.).
Founded in 1994, Capri Packaging is a vertically-integrated supplier of printed flexible packaging. Prior to being acquired by TC Transcontinental, Capri Packaging was a division of Schreiber Foods, Inc., a US$5-billion employee-owned dairy company, and operated as its internal supplier of printed flexible packaging. Capri Packaging employs close to 200 non-unionized employees and generates approximately US$72 million in annual revenues.
The purchase of Capri Packaging marks the creation of a new Packaging division (see logo above) that produces flexible packaging products (pouches, wrapping, shrink bags, lidding, etc.) and leverages TC Transcontinental’s manufacturing competency, developed over the past 35 years. TC Transcontinental is the largest printer and a leading provider of media and marketing activation solutions in Canada.
The acquisition will add about US$72 million to TC Transcontinental’s revenues. As part of the transaction, the seller, Schreiber Foods, Inc. has signed a 10-year agreement to secure Capri Packaging as a strategic supplier of flexible packaging, which represents about 75 percent of Capri’s total revenues.
“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. It represents a strategic move for the Corporation into a new promising area, flexible packaging, where we can significantly leverage our manufacturing competencies. We are enthusiastic about the future prospects that lie ahead for TC Transcontinental. We warmly welcome all Capri Packaging employees into our organization,” says Transcontinental Inc. president and chief executive officer François Olivier.
Under its umbrella, Transcontinental Inc. includes: TC Transcontinental, TC Media, TC Transcontinental Printing and TC Transcontinental Packaging, and has over 9,000 employees in Canada and the U.S., with 2013 revenues of CDN$2.1-billion.
Brian Reid has been appointed president of the TC Transcontinental sector, that is now made up of two divisions: TC Transcontinental Packaging and TC Transcontinental Printing. Reid will also oversee the development of the new packaging operations as the divisional president of TC Transcontinental Packaging, while continuing to oversee the strategic orientations of the Printing division. To support him in his new role, Jacques Grégoire is appointed divisional president of TC Transcontinental Printing.
For more information on TC Transcontinental’s Packaging division, contact TC Transcontinental Packaging vice-president of sales & marketing Bruce Jensen at 630-730-6750 or via e-mail at firstname.lastname@example.org.
To learn more about TC Transcontinental, visit www.tctranscontinental.com.