Transcontinental Inc. is pleased to announce that it has completed the acquisition of Ultra Flex Packaging Corp., a supplier of flexible packaging located in Brooklyn, New York. Ultra Flex Packaging employs close to 300 people and generated US$72 million in annual revenues in its last fiscal year. The transaction, announced on September 1st, 2015, was subject to regulatory approval in the United States.
"We are very pleased to welcome the Ultra Flex Packaging team into the TC Transcontinental family today," said François Olivier, President and Chief Executive Officer of TC Transcontinental. "This solid business joins our packaging division—which already comprises Capri Packaging, acquired in 2014—and is part of our strategy to ensure our future growth path through diversification."