“This acquisition builds on our Capri Packaging acquisition last year and is part of our strategy to ensure our future growth path through diversification,” said François Olivier, President and Chief Executive Officer of TC Transcontinental. “This latest acquisition expands our footprint in the U.S., gives us access to a national sales force and to new vertical markets and manufacturing capabilities. Once the acquisition has been completed, we will report annualized revenues of over $150 million (USD) in our packaging division. The three co-owners of Ultra Flex Packaging have agreed to stay on to ensure a smooth transition, provide continuity and support future growth. We are very optimistic of our growth prospects in this area and look forward to welcoming our new employees soon.”
“We are very pleased to join TC Transcontinental,” said Eli Blatt, Founder and Chief Executive Officer of Ultra Flex Packaging. “While we bring to the table industry knowledge, a highly skilled workforce and a national sales team, TC Transcontinental brings strong leadership, financial means and decades of manufacturing experience. Together we have what it takes to build the foundation for future growth.”