Canada-based Transcontinental has acquired flexible packaging company Coveris’ Americas division for $1.32 billion.
Coveris Americas produces a variety of flexible plastic packaging solutions and paper products such as bags and pouches, shrink films and labels from 21 manufacturing facilities worldwide.
This acquisition strengthens Transcontinental’s position in the flexible packaging market, as the move expands its product portfolio for clients in the dairy, coffee, bakery and snacks industries and increases its overall production capacity.
Transcontinental claims the acquisition will make flexible packaging the largest and most profitable aspect of its operations, and will also allow the company to serve new clients in the beverage, protein and agriculture industries.
