Canadian buyer picks up Capri Packaging

By Michael Lauzon
Correspondent

Published: March 11, 2014 8:14 pm ET
Updated: March 13, 2014 3:59 pm ET

Related to this story

Topics Mergers & Acquisitions, Packaging, Extrusion, Film & Sheet

A new entrant is poised to join the flexible packaging market to offset its declines in media and printing.

TC Transcontinental Inc. of Montreal has agreed to pay US$133 million for Capri Packaging and its two facilities in Clinton, Mo. Capri employs about 200 and has annual sales of about US$72 million.

Capri’s parent company is Schreiber Foods Inc., a US$5 billion, employee-owned dairy company in Green Bay, Wis. Schreiber has a 10-year agreement for Capri to continue as a strategic packaging supplier. The supply deal represents about 75 percent of Capri’s revenues.

“This acquisition represents an important strategic move for the corporation into a new, promising growth area,” explained Transcontinental President and CEO Francois Olivier in a March 11 news release. “It is part of our strategy to ensure our future growth path through diversification.”

Flexible packaging production is a natural fit for Transcontinental because it is similar to Transcontinental’s existing printing operations, Olivier indicated.

Transcontinental reported in an earnings statement that weakness in advertising hit its core printing and media activities, slicing first quarter sales by 5 percent to C$499.3 (US$449.4 million) compared to a year earlier. Transcontinental runs print and digital media and claims to be the largest printer and a leading media and marketing player in Canada.

Schreiber says it is the largest employee-owned dairy company in the world. It runs more than 30 facilities around the world.

Transcontinental plans to keep Capri’s two plants open because it has no similar technology elsewhere in the company, a spokeswoman said.

The Montreal company expects to complete the deal in April. Capri buys plastics films, prints then and finishes them.


Comments

Canadian buyer picks up Capri Packaging

By Michael Lauzon
Correspondent

Published: March 11, 2014 8:14 pm ET
Updated: March 13, 2014 3:59 pm ET

Post Your Comments


Back to story


More stories

Image

PET film maker Evertis expanding production in Mexico, Brazil, Portugal

November 20, 2014 2:52 pm ET

Evertis, a PET film maker, is expanding production at plants in Mexico, Brazil and Portugal, the company said.    More

Image

Coveris changes culture, eyes IPO

November 20, 2014 1:40 pm ET

CEO Gary Masse has a simple message, and some new math, for everyone at Coveris Holdings Corp. Get on board or get out of the way.    More

Image

New York City officials avoid taking a stand on plastic bag fee

November 20, 2014 11:28 am ET

New York Mayor Bill de Blasio's administration claimed Nov. 19 to be committed to dramatically reducing plastic bag consumption in New York City, but ...    More

Image

NS Farrington 'on track' to recycle 1 ton of PE per month

November 20, 2014 10:23 am ET

A polyethylene recycling program created by N.S. Farrington & Co. has passed the 60,000 pound mark.    More

Image

Total to buy majority stake in Polyblend

November 20, 2014 10:04 am ET

French oil and gas giant Total SA will buy a 68 percent stake in Germany's Polyblend GmbH, a subsidiary of Polymer-Chemie GmbH.    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events