TC Transcontinental acquires a majority participation in Trilex

TC Transcontinental (TSX: TCL.A TCL.B) (the “Corporation”) is pleased to announce today that it has acquired a 60% participation in Industrial y Commercial Trilex C.A. (“Trilex”), a plastic packaging supplier located in Guayaquil, Ecuador, employing about 170 people. Trilex specializes in the production and sale of packaging materials and banana farm plastics for protection and pest control. As the largest plastic supplier to the banana industry in Ecuador, Trilex enjoys a solid reputation of developing and providing a full range of solutions in this field. 

“The acquisition of a majority participation in Trilex, a leading supplier to the banana export industry, is aligned with our growth strategy for the Packaging Sector,” said François Olivier, President and Chief Executive Officer of TC Transcontinental. “Trilex expands our already well-established footprint in Latin America with a second location in Ecuador, in addition to our plants in Guatemala and Mexico, and our sales office in Costa Rica. We are pleased to acquire a majority participation in such a respected company that has fostered solid business relationships with a large customer base over the years. Today, we wish to extend a warm welcome to all of Trilex’s talented employees who are joining our team of committed, innovative and results-oriented people.”

Thomas Morin, President of TC Transcontinental Packaging, added: “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. This is why packaging not only optimizes product freshness for our customers but is also seen as one of the key solutions to reducing food waste.” 

This is TC Transcontinental’s 8th flexible packaging acquisition since entering the industry in 2014. TC Transcontinental Packaging is a leader in flexible packaging in North America, and also has operations in Guatemala, Mexico, Ecuador, United Kingdom, New Zealand and China. The sector has over 4,000 employees, the majority of which are based in the United States.