Transcontinental Inc. acquires Multifilm Packaging Corporation, a leader in high-end confectionery packaging in North America
Montréal, March 7, 2018 – Transcontinental Inc. (TSX: TCL.A TCL.B) announced today that it has acquired Multifilm Packaging Corporation, a flexible packaging supplier located in Elgin, near Chicago, in Illinois, employing over 70 people. The company enjoys a solid reputation in the high-end candy and chocolate packaging verticals in North America, and specializes in piece-wraps and high-barrier laminates for the confectionery, snacks and dry foods markets. Multifilm offers an integrated manufacturing process and distinguishes itself through its expertise in cast film extrusion, metallization and demetallization, as well as aluminum foil printing.
“The acquisition of Multifilm Packaging Corporation is aligned with our growth strategy for the packaging division and presents tremendous opportunities,” said François Olivier, President and Chief Executive Officer of TC Transcontinental. “This transaction allows us to enter new high-end confectionery packaging niches and to bolster our offering in this market. Multifilm expands our manufacturing capabilities, namely with aluminum foil printing and demetallization, thereby enabling us to leverage these sought-after processes within our North American packaging platform. We are pleased to acquire such a forward-thinking company, equipped with a state-of-the-art platform and enjoying solid business relationships with its loyal customers, some of whom are internationally renowned. We wish to extend a warm welcome to all of Multifilm’s talented employees who will be joining our team of committed and results-oriented people.”
Multifilm Packaging Corporation has been owned since 2008 by four owner-managers who will all remain with TC Transcontinental to ensure business continuity.
Mr. Chris Rogers, President of Multifilm Packaging Corporation, added: “We are truly proud to join TC Transcontinental, a large corporation with a 42-year history and track record of success. We are inspired by the long-term growth vision and entrepreneurial spirit of its executives, and we are confident that, together, we will continue to help Multifilm thrive by building on its success, as we have always done. Thanks to our innovative packaging solutions and solid expertise, our company enjoys a unique position in the confectionery market and will undoubtedly reinforce TC Transcontinental Packaging’s presence in this vertical. We take this opportunity to thank all our employees for their dedication and we look forward to continuing our growth with them as part of the TC Transcontinental team.”
This is TC Transcontinental’s sixth flexible packaging acquisition since entering the industry in 2014. Today, the Corporation’s packaging division has close to 1,000 employees and its North American platform comprises seven production plants and one premedia studio.
About TC Transcontinental
TC Transcontinental is Canada's largest printer and a key supplier of flexible packaging in North America. The Corporation is also a leader in its specialty media segments. TC Transcontinental's mission is to create products and services that allow businesses to attract, reach and retain their target customers.
Respect, teamwork, performance and innovation are strong values held by the Corporation and its employees. The Corporation's commitment to its stakeholders is to pursue its business activities in a responsible manner.
Transcontinental Inc. (TSX: TCL.A TCL.B), known as TC Transcontinental, has close to 6,500 employees in Canada and the United States, and revenues of C$2.0 billion in 2017. Website www.tc.tc
Our public communications often contain oral or written forward-looking statements which are based on the expectations of management and inherently subject to a certain number of risks and uncertainties, known and unknown. By their very nature, forward-looking statements are derived from both general and specific assumptions. The Corporation cautions against undue reliance on such statements since actual results or events may differ materially from the expectations expressed or implied in them. Forward-looking statements may include observations concerning the Corporation's objectives, strategy, anticipated financial results and business outlook. The Corporation's future performance may also be affected by a number of factors, many of which are beyond the Corporation's will or control. These factors include, but are not limited to, the economic situation in the world and particularly in Canada and the United States, structural changes in the industries in which the Corporation operates, the exchange rate, availability of capital, energy costs, competition, the Corporation's capacity to engage in strategic transactions and integrate acquisitions into its activities, the regulatory environment, the safety of its packaging products used in the food industry, innovation of its offering and concentration of its sales in certain segments. The main risks, uncertainties and factors that could influence actual results are described in Management's Discussion and Analysis (MD&A) for the fiscal year ended October 29, 2017, in the latest Annual Information Form and have been updated in the MD&A for the first quarter ended January 28, 2018.
Unless otherwise indicated by the Corporation, forward-looking statements do not take into account the potential impact of nonrecurring or other unusual items, nor of divestitures, business combinations, mergers or acquisitions which may be announced after the date of March 7, 2018.
The forward-looking statements in this press release are made pursuant to the “safe harbour” provisions of applicable Canadian securities legislation.
The forward-looking statements in this release are based on current expectations and information available as at March 7, 2018. Such forward-looking information may also be found in other documents filed with Canadian securities regulators or in other communications. The Corporation's management disclaims any intention or obligation to update or revise these statements unless otherwise required by the securities authorities.
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