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 Packaging, Mergers & Acquisitions, Film & Sheet, Extrusion

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

Investment firm buys Ontario cap molder

October 23, 2014 2:01 pm ET

A company whose varied interests include food and refrigerated transportation businesses is now moving into plastic caps.    More

Image

FTC warns bag makers to take care before making biodegradeability claims

October 23, 2014 12:30 pm ET

Makers of oxodegradable or oxo-biodegradable plastic bags should consider themselves on notice, according to the U.S. Federal Trade Commission.    More

Image

Bemis reports record quarterly profit

October 23, 2014 1:06 pm ET

Bemis Company Inc. saw record per-share earnings from continuing operations during the third quarter, but charges associated with the divestiture of...    More

Image

Geist Plastics changes name to Lincoln Plastics

October 23, 2014 12:31 pm ET

Custom profile extruder Geist Plastics Inc. is changing its name to Lincoln Plastics, the company announced Oct. 23.    More

Image

Packaging specialist Amcor hits sustainability goals ahead of schedule

October 23, 2014 11:15 am ET

Global packaging company Amcor Ltd. has achieved its waste reduction goals two years ahead of schedule, according to the company's new sustainability ...    More

Market Reports

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

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

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

More Events