TC Transcontinental Packaging acquired by ProAmpac

On 6 March 2026, flexible packaging platform ProAmpac Intermediate, Inc. completed the strategic acquisition of 100% of the share capital of TC Transcontinental Packaging Inc. from Canadian conglomerate Transcontinental Inc. (TSX: TCL.A, TCL.B), following a definitive share purchase agreement entered into on 7 December 2025. The transaction included customary closing adjustments for cash, debt, and working capital, and established mutual reciprocal termination break fees of C$93.7 million. For the twelve-month period ending 27 July 2025, the acquired business generated annual revenue of CAD 1.6bn and an EBITDA of CAD 255m. The acquisition received unanimous support from Transcontinental Inc.’s board of directors, led by Executive Chair Isabelle Marcoux, and secured formal shareholder approval on 2 February 2026. Cross-border regulatory clearances were granted on 25 February 2026 following the expiration and termination of statutory waiting periods under both the Canadian Competition Act and the US Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976. For Transcontinental Inc., the carve-out enables a strategic deleveraging of its balance sheet alongside cash capital returns to equity holders.Backed by private equity sponsor Pritzker Private Capital (PPC), with deal leadership directed by Managing Partner and Head of Investing Michael Nelson, the transaction scales ProAmpac’s production footprint and expands its high-barrier portfolio into protein, meat, dairy, and beverage packaging to complement its existing fiber-based and recyclable substrate platforms.On the buy-side, ProAmpac was advised by lead financial adviser Goldman Sachs & Co. LLC and financial adviser J.P. Morgan Securities LLC, with Kirkland & Ellis LLP (US) and McCarthy Tétrault LLP (Canada) acting as legal counsel. Transcontinental Inc. was advised financially by CIBC World Markets Inc. and RBC Dominion Securities Inc., each providing a fairness opinion to the board, with Stikeman Elliott LLP (Canada) and Morgan, Lewis & Bockius LLP (US) serving as legal counsel, and TSX Trust Company acting as transfer agent.