M&A

TC Transcontinental acquires Multifilm Packaging Corp

09-Mar-2018 - Last updated on 09-Mar-2018 at 10:16 GMT

TC Transcontinental has acquired Multifilm Packaging Corp, which specializes in high-end candy and chocolate packaging. Pic: Multifilm

TC Transcontinental has acquired snacks and chocolate packaging company Multifilm Packaging Corporation for an undisclosed sum.

Montreal-based TC Transcontinental is purportedly Canada’s largest printer, having generated revenues of $1.55bn in 2017.

According to Francois Olivier, president and CEO of TC Transcontinental, this is the company's sixth flexible packaging acquisition since entering the industry in 2014.

“The acquisition is aligned with our growth strategy for the packaging division and presents tremendous opportunities and allows us to enter new high-end confectionery packaging niches and to bolster our offering in this market," said Olivier.

Olivier added Multifilm Packaging is particularly good at aluminum foil printing and demetallization, “thereby enabling us to leverage these sought-after processes within our North American packaging platform.”

Multifilm Packaging - based in Chicago and employing 70 staff - specializes in high-end candy and chocolate packaging, as well as piece-wraps and high-barrier laminates for the snacks and dry foods markets.

The four owner-managers will remain with the company after the acquisition to ensure “business continuity,” according to a release.