US - Transcontinental Inc. of Canada definitively agreed to acquire the Americas packaging business of Coveris Holdings SA, a Chicago-based manufacturer of plastics products, for an estimated total US$1.32 billion.
The purposes of the transaction were for Transcontinental Inc to expand its product offering, broaden its market coverage, expand their presence in new geographical regions, and to take advantage the investment opportunities. As a result of the acquisition, synergies before taxes is expected to be USD 20 mil and accretive.
Date Announced: 04/02/2018
Deal Status (as of publication date): Pending
Deal Value (mil): $1,320
BMO Capital Markets (Financial Advisor; Advisory)
CIBC World Markets Inc. (Financial Advisor; Provided Financing)
JP Morgan (Financial Advisor; Advisory)
Scotiabank (Financial Advisor; Provided Financing)
Morgan Lewis & Bockius LLP (Legal Advisor)
Stikeman Elliott LLP (Legal Advisor, Canada)
Goldman Sachs & Co. (Financial Advisor)
Wells Fargo Bank NA (Financial Advisor)
Kirkland & Ellis LLP (Legal Advisor)
Transcontinental Inc, headquartered in Montreal, Quebec, provides printing, publishing and marketing services. It prints and publishes newspapers, periodicals, books and commercial products, and provides pre-press, printing and distribution services of advertising inserts. It offers marketing services covering strategic consulting, analytics, content creation and platforms, and media execution and related services. It also manufactures compact discs, CD-audio and database compact discs, and CD-ROM. It is also serves as a holding company. The Company was founded in 1978.
Coveris Holdings SA, located in Chicago, Illinois, provides packaging services. It also manufactures pet food packaging products.
Americas packaging business of Coveris Holdings SA, located in Chicago, Illinois, is a manufacturer of packaging products.
*List of advisors are those known at press time.