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Industry News, Mergers and Acquisitions, Printers News

Transcontinental Inc. Makes First Flexible Packaging Acquisition in Canada

Acquired Flexstar Packaging Inc., a flexible packaging supplier based in British Columbia.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Transcontinental Inc. announced that it has acquired all of the shares of Flexstar Packaging Inc., a flexible packaging supplier based in the Vancouver suburb of Richmond, British Columbia.
 
The company specializes in converting high barrier film, including printing, lamination and pouch making, for the cereal, confectionery, snack, frozen food and coffee markets. With more than 120 employees, Flexstar Packaging Inc. generated about C$36 million in revenues for the last 12 months ending in July 2016.
 
“I am proud of this latest acquisition in our strategy to grow our flexible packaging network as it is our first in Canada,” said François Olivier, president and CEO of TC Transcontinental. “Flexstar enables us to extend our footprint to the West Coast, providing us a coast-to-coast platform to better optimize our production. In addition, it brings us new manufacturing capabilities with film extrusion, a complementary sales force and the ability to generate synergies. We are delighted to welcome the leadership team and employees of Flexstar who have contributed to the company’s remarkable success over the past few years”.
 
For the past 11 years, Flexstar Packaging Inc. has been owned by a group of Vancouver-based investors led by Stern Partners Inc., a group that included Marc L. Bray, the president and CEO of Flexstar Packaging Inc., who is staying on with TC Transcontinental.

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