ProAmpac to Buy TC Transcontinental Packaging
ProAmpac is buying 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,” ProAmpac said in a news release.
The transaction is expected to close in the first quarter of 2026, subject to shareholder approval, regulatory approvals, and other customary conditions.
ProAmpac says that it brings sustainability, speed, and material science to the global packaging market.
“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,” it also said. “The combination will further accelerate ProAmpac’s development of next-generation packaging, including barrier films, mono-material structures, and fiber-based solutions, to help its customers meet their value creation and sustainability goals.”
Greg Tucker, ProAmpac founder, CEO, and vice chair, says TCP and ProAmpac share the same dedication to “excellence, customer focus, and doing business the right way.”
Headquartered in Chicago, TCP has approximately 3,500 employees that operate in 25 production plants in North America, Latin America, the United Kingdom, and New Zealand. It is the packaging sector of TC Transcontinental, which was founded in 1976 and is based in Canada.
“The transaction will result in the divestiture of the corporation’s entire interest in the packaging sector,” TC Transcontinental said in a news release about the deal.
