Transcontinental Inc., Canada, acquired Ultra Flex Packaging Corp., a supplier of flexible packaging located in Brooklyn, N.Y.

Ultra Flex Packaging employs close to 300 people and generated $72 million in annual revenues in its last fiscal year. The transaction is subject to regulatory approval in the United States.

“We are very pleased to welcome the Ultra Flex Packaging team into the TC Transcontinental family,” says François Olivier, president and CEO 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.”