Transcontinental Inc. Completes the Capri Packaging Acquisition
May 05 2014 - 3:24PM
Marketwired
Transcontinental Inc. Completes the Capri Packaging Acquisition
MONTREAL, QUEBEC--(Marketwired - May 5, 2014) - Transcontinental
Inc. (TSX:TCL.A)(TSX:TCL.B)(TSX:TCL.PR.D) is pleased to announce
that it has completed the transaction for the acquisition of the
assets of Capri Packaging, a producer of flexible packaging,
operating two facilities located in Clinton, Missouri. The
acquisition will add about US$72 million to TC Transcontinental's
revenues. As part of the transaction, the seller, Schreiber Foods,
Inc. has signed a 10-year agreement to secure Capri Packaging as a
strategic supplier of flexible packaging, which represents about
75% of Capri's total revenues.
"The acquisition of Capri Packaging is an important milestone in
our development and is an integral part of our strategy to ensure
TC Transcontinental's profitable growth through prudent
diversification. It represents a strategic move for the Corporation
into a new promising area, flexible packaging, where we can
significantly leverage our manufacturing competencies. We are
enthusiastic about the future prospects that lie ahead for TC
Transcontinental. We warmly welcome all Capri Packaging employees
into our organization," said François Olivier, President and Chief
Executive Officer of Transcontinental Inc.
"In order to efficiently develop, run and grow our manufacturing
operations, we have adapted our organizational structure. Mr. Brian
Reid is appointed President of the sector that now comprises two
divisions: TC Transcontinental Printing and TC Transcontinental
Packaging. Drawing on his extensive manufacturing experience, Brian
will also oversee the development of our new packaging operations
as the Divisional President of TC Transcontinental Packaging, while
continuing to oversee the strategic orientations of the Printing
division. To support him in his new role, Jacques Grégoire is
appointed Divisional President of TC Transcontinental Printing.
Jacques is a seasoned manager with over 27 years of leadership
experience in key executive roles within TC Transcontinental
Printing. Until recently, Jacques was Senior Vice President of the
Magazine, Book and Catalogue Group. I wish them both much success
in their new roles," noted Mr. Olivier.
TC Transcontinental Profile
Largest printer and a leading provider of media and marketing
activation solutions in Canada, TC Transcontinental creates
products and services that allow businesses to attract, reach and
retain their target customers. The Corporation specializes in print
and digital media, the production of magazines, newspapers, books
and custom content, mass and personalized marketing, interactive
and mobile applications, door-to-door distribution, and also
manufactures a range of flexible packaging products in the United
States.
Transcontinental Inc. (TSX:TCL.A)(TSX:TCL.B)(TSX:TCL.PR.D),
including TC Transcontinental, TC Media, TC Transcontinental
Printing and TC Transcontinental Packaging, has over 9,000
employees in Canada and the United States, and revenues of C$2.1
billion in 2013. Website www.tc.tc.
Forward-looking Statements
Our public communications often contain oral or written
forward-looking statements which are based on the expectations of
management and inherently subject to a certain number of risks and
uncertainties, known and unknown. By their very nature,
forward-looking statements are derived from both general and
specific assumptions. The Corporation cautions against undue
reliance on such statements since actual results or events may
differ materially from the expectations expressed or implied in
them. Forward-looking statements may include observations
concerning the Corporation's objectives, strategy, anticipated
financial results and business outlook. The Corporation's future
performance may also be affected by a number of factors, many of
which are beyond the Corporation's will or control. These factors
include, but are not limited to, the economic situation in the
world and particularly in Canada and the United States, structural
changes in the industries in which the Corporation operates, the
exchange rate, availability of capital, energy costs, competition,
the Corporation's capacity to engage in strategic transactions and
integrate acquisitions into its activities, the regulatory
environment, the safety of our packaging products used in the food
industry, innovation of our offering and concentration of our sales
in certain segments. The main risks, uncertainties and factors that
could influence actual results are described in Management's
Discussion and Analysis (MD&A) for the fiscal year ended on
October 31st, 2013, in the latest Annual Information Form and have
been updated in the MD&A for the first quarter ended January
31st, 2014.
Unless otherwise indicated by the Corporation, forward-looking
statements do not take into account the potential impact of
nonrecurring or other unusual items, nor of divestitures, business
combinations, mergers or acquisitions which may be announced after
the date of May 5, 2014.
The forward-looking statements in this press release are made
pursuant to the "safe harbour" provisions of applicable Canadian
securities legislation.
The forward-looking statements in this release are based on
current expectations and information available as at May 5, 2014.
Such forward-looking information may also be found in other
documents filed with Canadian securities regulators or in other
communications. The Corporation's management disclaims any
intention or obligation to update or revise these statements unless
otherwise required by the securities authorities.
Media: Nathalie St-JeanSenior Advisor, Corporate
CommunicationsTC Transcontinental514
954-3581nathalie.st-jean@tc.tcwww.tc.tcFinancial Community:
Jennifer F. McCaugheySenior Director, Investor Relations
andExternal Corporate CommunicationsTC Transcontinental514
954-2821jennifer.mccaughey@tc.tc
Transcontinental (TSX:TCL.B)
Historical Stock Chart
From Jul 2024 to Aug 2024
Transcontinental (TSX:TCL.B)
Historical Stock Chart
From Aug 2023 to Aug 2024