ProAmpac has signed a definitive agreement to acquire TC Transcontinental Packaging (TCP) from TC Transcontinental for US$1.51 billion, expanding the Cincinnati-headquartered group’s flexible packaging footprint across North America, Latin America, the UK and New Zealand. The transaction is slated to close in the first quarter of 2026, subject to shareholder and regulatory approvals and other customary conditions.
TCP generated approximately US$1.2 billion in revenue in the twelve months ended 27 July 2025, employs about 3,500 people and operates 25 production plants. ProAmpac said TCP strengthens its positions in dairy, meat, medical and pharmaceutical end-markets and accelerates development of barrier films, mono-material structures and fiber-based solutions.
“This acquisition is a transformative milestone for ProAmpac and TCP. Through TCP, ProAmpac is broadening its end-market focus to include protein, dairy, and medical segments, and expanding its geographic presence. Together we are committed to delivering high-performing and increasingly sustainable packaging solutions to customers,” said Greg Tucker, founder, vice-chairman and chief executive of ProAmpac.
TC Transcontinental’s board chair Isabelle Marcoux said the deal “delivers immediate and significant value to our shareholders,” adding: “I believe that TC Transcontinental Packaging has found an exciting new home, and I am confident that ProAmpac will be a strong cultural fit for our employees and that the combination will be well positioned to deliver increased value to customers.”
TC Transcontinental disclosed that the agreed consideration implies an enterprise value of approximately C$2.22 billion for the packaging business and that it expects to distribute roughly C$20.00 per share to shareholders upon closing. Using the company’s stated exchange rate (C$1.38/US$1), that distribution equates to approximately US$14.50 per share. The sale requires approval by at least two-thirds of votes cast at a special shareholders’ meeting expected by end-January 2026.
Pritzker Private Capital, ProAmpac’s majority owner since 2016, framed the purchase as a continuation of its buy-and-build strategy. “We have maintained a consistent, long-term commitment to building ProAmpac into a leading packaging provider… The acquisition of TCP continues this strategy by adding a highly respected provider of innovative solutions in complementary markets and expanding ProAmpac’s presence geographically,” said Michael Nelson, managing partner and head of investing at PPC.
