"The acquisition of Multifilm Packaging Corporation is aligned with our growth strategy for the packaging division and presents tremendous opportunities," says François Olivier, president and Chief Executive Officer of Montreal-based TC Transcontinental. "This transaction allows us to enter new high-end confectionery packaging niches and to bolster our offering in this market. Multifilm expands our manufacturing capabilities, namely with aluminum foil printing and demetallization, thereby enabling us to leverage these sought-after processes within our North American packaging platform. We are pleased to acquire such a forward-thinking company, equipped with a state-of-the-art platform and enjoying solid business relationships with its loyal customers, some of whom are internationally renowned. We wish to extend a warm welcome to all of Multifilm's talented employees who will be joining our team of committed and results-oriented people."
Multifilm Packaging Corporation has been owned since 2008 by four owner-managers who will all remain with TC Transcontinental to ensure business continuity. Transcontinental is said to be the largest printer and a key flexible packaging supplier throughout North America.
Chris Rogers, President of Multifilm Packaging Corporation, adds: "We are truly proud to join TC Transcontinental, a large corporation with a 42-year history and track record of success. We are inspired by the long-term growth vision and entrepreneurial spirit of its executives, and we are confident that, together, we will continue to help Multifilm thrive by building on its success, as we have always done. Thanks to our innovative packaging solutions and solid expertise, our company enjoys a unique position in the confectionery market and will undoubtedly reinforce TC Transcontinental Packaging's presence in this vertical. We take this opportunity to thank all our employees for their dedication and we look forward to continuing our growth with them as part of the TC Transcontinental team."
This is TC Transcontinental's sixth flexible packaging acquisition since entering the industry in 2014. Today, the packaging division has close to 1,000 employees and its North American platform comprises seven production plants and one premedia studio.