TC Transcontinental buys majority stake in Ecuador-based banana industry film supplier Trilex
Trilex has about 170 workers and supplies plastics packaging and farm plastics used for protection and pest control.
Montreal-based flexible packaging supplier TC Transcontinental has acquired a 60 per cent stake in Industrial y Commercial Trilex C.A., a plastic packaging supplier located in Guayaquil, Ecuador that specializes in the production and sale of packaging materials and banana farm plastics for protection and pest control.
The financial terms of the deal have not been disclosed.
Said to be the largest plastic supplier to the banana industry in Ecuador, Trilex employs approximately 170 workers.
“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,” François Olivier, TC Continental’s president and CEO, said in a Sept. 3 statement. “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.”
The banana industry presents what TC Continental calls “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,” the company said. “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 eight flexible packaging acquisition since entering the industry in 2014. The company specializes in flexographic printing, lamination of plastic films, and converting, including bags and pouches.