Transcontinental Inc. has acquired the assets of Capri Packaging—a division of Schreiber Foods, and a supplier of printed flexible packaging—for a purchase price of US$133 million. The transaction is subject to regulatory approval in the United States. "This acquisition represents an important strategic move for the corporation into a new, promising growth area," said Francois Olivier, president and CEO of Transcontinental Inc.
MONTREAL—Transcontinental Inc. has acquired the assets of Capri Packaging, a supplier of printed flexible packaging, for a purchase price of US$133 million. The transaction is subject to regulatory approval in the United States. Capri Packaging is a division of Schreiber Foods, a US$5 billion, employee-owned dairy company headquartered in Green Bay, WI.
Transcontinental Inc. has entered into a definitive agreement under which it agreed to acquire the assets of Capri Packaging, a division of Schreiber Foods, and supplier of printed flexible packaging, located in Clinton, MO, for a purchase price of US$133 million.
Commercial Printing Industry News Briefs from Printing Impressions’ March 2014 edition, including Quad/Graphics, Transcontinental, Konica and MGI, Calabrese Printing, Abbott's Printing
According to Jim Workman, assistant vice president at Printing Industries of America (PIA), there are several patent owners and law firms trying to flex their muscles seeking licenses and/or payouts, but the two most active litigators are CTP Innovations (represented by Nashville, TN-based Baker Donelson) and SkipPrint (represented by Maschoff Bernann in Park City, UT).
Transcontinental Printing has laid off about 40 workers at its Edmonton (Canada) facility at 18130 114th Ave.
“We announced it on January 8, but it was a phased reduction and it ends (Friday),” said Jennifer McCaughey, senior director of investor relations and external corporate communications for Transcontinental, which has its headquarters in Montreal.
She said the plant employed more than 100 people and there are about 65 remaining. The cuts were determined by market conditions, she said.
Transcontinental Inc.'s revenues for fiscal 2013 remained stable at $2.1 billion. This performance is mainly related to the contribution from acquisitions, in particular the acquisition of Quad/Graphics Canada, which was however offset by the end of the contract to print and distribute Zellers flyers, a decrease in volume in our book and magazine printing operations, a difficult advertising environment and the incentives granted for the renewal of certain contracts in 2012.
Catalogers and magazine publishers in 2013 faced many of the same challenges as the prior year of finding the right mix of media to deliver information and build their brands. In addition, economic uncertainty and pending postal increases were thrown into the pot to create a stew of questions.
TC Transcontinental Printing will now print the Vancouver Sun newspaper as part of a five-year agreement with Postmedia Network. Starting early 2015, the newspaper will be printed at Transcontinental's facility in Vancouver. This agreement will enable TC Transcontinental to further optimize its capacity within the Vancouver facility.
Transcontinental Inc.'s third-quarter revenues decreased from $517.0 million in 2012 to $493.8 million in 2013, mainly due to the end of the contract to print and distribute Zellers flyers after its store closures.
