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Transcontinental Inc. (TSX: TCL.A TCL.B) announced today that it has acquired Les Industries Flexipak Inc., a flexible packaging supplier located in Montréal, Québec, employing 55 people. The company is a converter specialized in flexographic printing, lamination as well as bag and pouch making, and has other value-added capabilities. Les Industries Flexipak Inc. offers a wide range of flexible packaging products serving consumer goods companies, food processors and retailers across several markets including frozen fruits and vegetables, seafood, snacks, grains, nuts and beverage (shrink films). It is the first flexible packaging company in Québec to be awarded BRC Packaging certification, a standard recognized by the Global Food Safety Initiative (GFSI), with an AA grade.
“I am excited to announce this fifth flexible packaging acquisition in North America – our first in the province of Québec – which marks yet another step in the development of our North American network,” said François Olivier, President and Chief Executive Officer of TC Transcontinental. “This transaction extends our footprint to Eastern Canada by adding a Montréal-based facility equipped with a state-of-the-art platform, and gives us the opportunity to further develop our existing business relationships with retailers in the country. Driven by its belief in outstanding customer service and innovation, Flexipak has a strong family business culture that will naturally blend with ours. We are truly delighted to welcome Flexipak’s employees to the TC Transcontinental family and look forward to growing our flexible packaging business with them.”
Les Industries Flexipak Inc. was founded in 1998 by President and Chief Executive Officer Charles Boustany. As part of the transaction, all managers and employees will be retained, including Karl Boustany, Vice President and General Manager. Customers will therefore continue to be serviced by the current team.
“Flexipak has been a family-owned business for nearly 20 years and, today, I am very proud that it is joining a solid family-controlled corporation headquartered in Montréal,” said Charles Boustany. “The fact that we were chosen by TC Transcontinental is an indisputable validation of our successful business model. TC Transcontinental is led by seasoned leaders who foster a long-term vision to grow its flexible packaging division. I am confident that Flexipak’s talented team, led by my son Karl, will continue to thrive as part of TC Transcontinental Packaging’s North American network, with a continued focus on quality and excellent customer service. Our two companies are a natural fit. TC Transcontinental’s entrepreneurial spirit, core values and strong culture will undoubtedly resonate with Flexipak’s employees as they embark on this new chapter.”
In 2014, TC Transcontinental made its first strategic acquisition in the flexible packaging industry with Capri Packaging, located in Missouri. In 2015, the Corporation doubled its revenues in this area by acquiring Ultra Flex Packaging Corp. in New York. TC Transcontinental made two other acquisitions in 2016: Robbie Manufacturing in Kansas and Flexstar Packaging Inc. in British Columbia – its first flexible packaging acquisition in Canada.