Transcontinental Inc. (TSX: TCL.A TCL.B) (“TC Transcontinental” or the “Corporation”) is pleased to announce that it has completed the previously announced acquisition (the “Acquisition”) of the business of Coveris Americas, a business previously held by Coveris Holdings S.A. Headquartered in Chicago, Illinois, Coveris Americas manufactures a variety of flexible plastic and paper products, including rollstock, bags and pouches, coextruded films, shrink films, coated substrates and labels. Coveris Americas operates 21 well invested production facilities in the United States, Canada, Ecuador, Guatemala, Mexico, the United Kingdom, New Zealand and China. With this Acquisition, TC Transcontinental welcomes 3,100 employees, the majority of whom are located in North America and Latin America.
“We could not be prouder of this historical acquisition as we become a North American leader in flexible packaging,” said François Olivier, President and Chief Executive Officer of TC Transcontinental. “We started building our Packaging network only four years ago through a robust acquisition strategy to complement our well established printing and media operations and, today, the acquisition of Coveris Americas marks a major milestone in our continued journey to long-term profitable growth. Through the integration process, we will focus on combining our expertise, strengths and shared purpose, and on working as one to continue delivering value for Coveris Americas’ 3,500 loyal customers, many of whom are market leaders. Additionally, we are excited to welcome Coveris Americas’ talented and dedicated employees who will bring their trailblazing know-how to TC Transcontinental.”
Following this Acquisition, TC Transcontinental is now well positioned across a broad range of flexible packaging’s growing end markets, such as dairy, pet food, beverage, agriculture and consumer products. Additionally, the Acquisition expands TC Transcontinental’s product offering with best in-class capabilities and greater film manufacturing capabilities.
more detail at: https://tctranscontinental.com/sites/default/files/2018-05/Press_01-05-2018.pdf