ProAmpac to Acquire TC Transcontinental Packaging in a Transformational US$1.51 Billion Deal
ProAmpac, a global leader in flexible packaging and advanced material science solutions, announced that it has entered into a definitive agreement to acquire TC Transcontinental Packaging (TCP) from TC Transcontinental. The landmark transaction, valued at US$1.51 billion (approximately CAD$2.1 billion), marks one of the most significant packaging industry acquisitions in recent years. The purchase price remains subject to standard adjustments related to debt and debt-like items, cash, and net working capital at the time of closing.
TCP generated roughly US$1.2 billion in revenue over the twelve months ending July 27, 2025, underscoring its scale and strategic importance across multiple high-value end markets. The acquisition is anticipated to close during the first quarter of calendar year 2026, pending shareholder approval, customary regulatory reviews, and additional closing conditions. If completed as expected, the deal will position ProAmpac as an even more formidable global competitor with expanded manufacturing capabilities and a broader portfolio of sustainable, high-performance packaging solutions.
A Strategic Acquisition That Expands Global Reach and Technical Capabilities
ProAmpac, recognized for its innovations in sustainability, speed-to-market, and material science, views TCP as an ideal complement to its existing capabilities. TCP brings to the table a well-established portfolio in the dairy, meat, medical, pharmaceutical, and protein-related packaging markets, all categories experiencing continued growth and innovation momentum. These end markets demand stringent quality, safety, and performance requirements—areas in which TCP has built a strong reputation over decades.
In addition to expanding ProAmpac’s end-market reach, the acquisition will significantly extend the company’s manufacturing footprint. TCP operates facilities across North America, Latin America, the United Kingdom, and New Zealand, offering ProAmpac a more diversified global supply network. This broader geographic presence strengthens ProAmpac’s ability to support multinational customers, meet fast-changing demand dynamics, and accelerate innovation pipelines with regional expertise.
The deal further enhances ProAmpac’s ongoing push to develop next-generation packaging technologies, including high-barrier films, mono-material packaging formats, recyclable structures, and advanced fiber-based solutions. These technologies continue to gain prominence as brand owners and regulators place increasing emphasis on sustainability, resource efficiency, and circularity.
Leadership Perspectives: A Common Culture and Shared Vision
ProAmpac’s Founder, Vice Chairman, and Chief Executive Officer Greg Tucker emphasized the transformational nature of the acquisition, noting that the integration of TCP will significantly broaden ProAmpac’s customer base and market expertise.
“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,” Tucker said. “Together we are committed to delivering high-performing and increasingly sustainable packaging solutions to customers. TCP and ProAmpac share the same dedication to excellence, customer focus, and doing business the right way. We are thrilled to welcome the TCP team into the ProAmpac family.”
Tucker’s remarks highlight two key themes: ProAmpac’s ongoing commitment to sustainable innovation and its intention to maintain the strong customer-centric culture that has defined both companies. The acquisition aligns with ProAmpac’s strategy of enhancing technical depth and expanding its presence in high-growth categories where sustainability and performance are top priorities.
Recognition from TC Transcontinental Leadership
Isabelle Marcoux, Executive Chair of the Board of Transcontinental Inc., expressed strong confidence in the decision to transition TCP to ProAmpac. She underscored that ProAmpac’s corporate values and commitment to customers mirror those of TC Transcontinental, ensuring cultural alignment and continuity for employees and stakeholders.
“I believe that TCP has found an exciting new home with ProAmpac. Like TC Transcontinental, ProAmpac has built its business with a relentless focus on helping customers succeed,” Marcoux said. “With this common background, I am confident that ProAmpac will be a strong cultural fit for TCP and that the combination will be well positioned to deliver increased value to customers. We are thankful for the efforts and contributions of TCP’s extraordinary employees to TC Transcontinental and are excited for their next chapter as part of ProAmpac.”
Her comments reflect the strategic rationale behind TC Transcontinental’s decision to divest its packaging division—allowing the business to grow under a company whose core mission and investment strategy are fully aligned with next-generation packaging solutions.
Investor Perspective: Continued Momentum Behind ProAmpac’s Growth Plan
From the investment standpoint, Michael Nelson, Managing Partner and Head of Investing at PPC (ProAmpac’s ownership group), affirmed that the acquisition represents a continuation of PPC’s long-term commitment to expanding ProAmpac’s business through both organic growth and strategic acquisitions.
“We have maintained a consistent, long-term commitment to building ProAmpac into a leading packaging provider, supporting both organic and acquisition growth to meet customer demand for more sustainable packaging solutions,” Nelson said. “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.”
Nelson also acknowledged the collaborative work of all involved parties: “I would like to thank the teams at ProAmpac, TC Transcontinental, and TCP for all their efforts toward making this exciting combination a reality.”
His remarks reinforce that the transaction forms part of a broader consolidation and growth strategy within the flexible packaging sector, where scale, innovation, and sustainability have become defining competitive differentiators.
Strategic Advisors and Transaction Support
To support the execution of the acquisition, ProAmpac engaged a coordinated team of financial and legal advisors with deep expertise in cross-border transactions and industrial acquisitions.
- Goldman Sachs is serving as lead financial advisor to ProAmpac.
- J.P. Morgan Securities LLC is also acting as a financial advisor.
- Legal counsel to ProAmpac is being provided by Kirkland & Ellis LLP and McCarthy Tétrault LLP, ensuring comprehensive guidance across U.S. and Canadian jurisdictions.
Their involvement underscores the complexity and significance of the transaction, particularly given the global nature of TCP’s operations and the regulatory review process required in multiple regions.
A Transformational Step for the Global Packaging Landscape
Upon completion, the acquisition of TC Transcontinental Packaging will position ProAmpac as one of the most comprehensive players in the flexible packaging industry, with expanded scale, technical capability, and sustainable innovation capacity. The combined company will have a strengthened portfolio serving essential sectors such as food, healthcare, and industrial packaging, while supporting customer transitions toward recyclable and resource-efficient materials.
The deal also echoes broader trends shaping the packaging industry—including the pursuit of global reach, the demand for sustainable material solutions, and the rising importance of specialized, high-performance packaging tailored to food safety, medical applications, and environmentally responsible product lifecycles.
With the acquisition expected to close in early 2026, ProAmpac and TCP will now begin planning for integration, customer communications, and the alignment of innovation roadmaps. Both companies have expressed strong confidence in the long-term opportunities the combination will unlock.
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