Transcontinental to buy Richmond, B.C.-based Flexstar Packaging
Company makes flexible packaging for cereal, candy, coffee, snack and frozen food markets
MONTREAL, Que.—Transcontinental Inc. is moving into the Canadian flexible packaging market with the acquisition of a 120-person manufacturer in the Vancouver suburbs.
The print and media company announced Oct. 17 that it has bought Richmond, B.C.-based Flexstar Packaging Inc. for an unspecified price. Specializing in custom printed, laminated, flexible roll-stock and specialty films, Flexstar supplies companies in the cereal, candy, coffee, snack and frozen food markets.
The acquisition is Transcontinental’s first flexible packaging buy within Canada.
“Flexstar enables us to extend our footprint to the West Coast, providing us a coast-to-coast platform to better optimize our production,” François Olivier, the company’s president and CEO, said. “In addition, it brings us new manufacturing capabilities with film extrusion, a complementary sales force and the ability to generate synergies.”
The B.C. company had revenues of about $36 million over the 12-month period ending in July.