ProAmpac to acquire TC Transcontinental Packaging for $1.5 billion

Flexible packaging and material science developer ProAmpac, Cincinnati, says it has signed a definitive agreement to acquire TC Transcontinental Packaging (TCP) from TC Transcontinental for $1.51 billion, subject to customary adjustments for debt and debt-like items, cash and net working capital.

Headquartered in Chicago, TCP generated approximately $1.2 billion in revenue during the last 12 months, which ended July 27. ProAmpac says it expects the transaction to close in the first quarter of calendar 2026, subject to shareholder approval, regulatory approvals and other customary conditions.

“ProAmpac brings sustainability, speed and material science to the global packaging market,” the company says, adding that TCP is a “strong strategic fit” that will add advanced capabilities in the dairy, meat, medical and pharmaceutical end markets, as well as manufacturing capacity in North America, Latin America, the United Kingdom and New Zealand. ProAmpac says it expects the combination to further accelerate its development of “next-generation packaging,” including barrier films, monomaterial structures and fiber-based solutions to help its customers meet their value creation and sustainability goals.

“This acquisition is a transformative milestone for ProAmpac and TCP,” says Greg Tucker, founder, vice chairman and CEO of ProAmpac. “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.

“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.”

Isabelle Marcoux, executive chair of the board of Canada-based Transcontinental Inc, says 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 says. “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.”

According to Michael Nelson, managing partner and head of investing at Pritzker Private Capital (PPC), which owns ProAmpac, his firm has 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 products.

“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 says. “In addition, I would like to thank the teams at ProAmpac, TC Transcontinental and TCP for all their efforts toward making this exciting combination a reality.”

Goldman Sachs is serving as lead financial advisor and J.P. Morgan Securities LLC is serving as financial advisor to ProAmpac, while Kirkland & Ellis LLP and McCarthy Tétrault LLC is serving as its legal counsel.