Transcontinental buys Montreal packaging firm Flexipak
The deal shifts the Quebec-based company further toward packaging as it sells off its media assets
MONTREAL—Quebec-based Transcontinental Inc. has acquired a 55-person packaging company located in the St-Laurent borough of Montreal.
The deal for Les Industries Flexipak Inc. is Transcontinental’s fifth North American packaging acquisition since 2014 as the printing, publishing and media company pivots toward packaging and away from newspapers and magazines.
It did not disclose the financial terms.
Flexipak makes packaging for consumer goods firms, food processors and retailers.
“This transaction extends our footprint to Eastern Canada by adding a Montreal-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,” François Olivier, the company’s president and CEO, said in a statement.
A family-run business founded in 1998, Flexipak specializes in flexographic printing, lamination as well as bag and pouch making.
Transcontinental said it intends to retain all of the company’s employees and managers.