March 07, 2018 - 10:27 AM
MONTREAL - Transcontinental Inc. has acquired Multifilm Packaging Corp., a candy and snack packaging supplier in the United States.
Financial terms of the deal were not immediately available.
Transcontinental has been growing its packaging business since entering the sector in 2014 in a bid to become less reliant on its traditional printing business.
Following the company's annual meeting last week, chief executive Francois Olivier said he would be looking to make acquisitions this year.
The Multifilm deal is the company's sixth flexible packaging acquisition since entering the industry.
Transcontinental says Multifilm has been owned since 2008 by four owner-managers who will remain with the company based in Elgin, Ill., near Chicago.
Companies in this story: (TSX:TCL.A, TSX:TCL.B)
News from © The Canadian Press, 2018