TC Transcontinental Inc. announced that it entered into a definitive agreement to acquire Ultra Flex Packaging, a supplier of flexible packaging located in Brooklyn, NY, for US $80 million to be paid in cash at closing plus an additional consideration payable subject to attaining pre-established financial targets. Ultra Flex Packaging employs close to 300 people and generated US$72 million in annual revenues and US$12 million in operating income before amortization in its last fiscal year. Th...