TC Transcontinental said that the acquisition of Trilex marks its eight flexible packaging acquisition since the start of its operations in 2014
Canadian flexible packaging solutions provider TC Transcontinental has acquired a 60% stake in Industrial y Commercial Trilex (Trilex), an Ecuador-based plastic packaging supplier.
Trilex produces and sells packaging materials and banana farm plastics in Ecuador
Trilex is engaged in the production and sale of packaging materials and banana farm plastics for protection and pest control. It also provides a full range of solutions to the banana industry in Ecuador.
TC Transcontinental said that the acquisition of Trilex marks its eighth flexible packaging acquisition since the start of its operations in 2014, and a second location in Ecuador, adding to its plants in Guatemala and Mexico, and sales office in Costa Rica.
In addition, the acquisition of a majority interest in Trilex is aligned with its growth strategy for the Packaging Sector, and is expected to expand its pre-established footprint in Latin America.
TC Transcontinental Packaging president Thomas Morin said: “The banana industry presents very specific needs such as protection during the growing cycle, crop yield improvement, as well as sun and pest damage reduction, in addition to export packaging needs.
“Thanks to Trilex, we will bolster our product offering for the agricultural market, namely with banana tree bags and box liners, and strengthen our position as a key supplier to the banana industry in Latin America.
“This market is the perfect example of how active ingredients in films can lead to better harvests and how important food protection is to extend product shelf life for export.”
In May 2018, TC Transcontinental has closed the acquisition of Coveris’ Americas business for $1.32bn (£1.08bn).
Coveris Americas manufactures a variety of flexible plastic and paper products, including rollstock, bags and pouches, coextruded films, shrink films, coated substrates and labels.
TC Transcontinental claims that it operates 21 production facilities across the US, Canada, Ecuador, Guatemala, Mexico, the UK, New Zealand and China.