TC Transcontinental has secured shareholder approval to sell its packaging sector to ProAmpac Holdings for $1.51 billion, with the deal expected to finalize in early 2026, aiming to enhance operational efficiencies and market presence.

Target Information

TC Transcontinental, a prominent player in the packaging industry, has garnered significant shareholder support for the divestiture of its packaging business to ProAmpac Holdings. At a recent special shareholder meeting, an overwhelming 99.98% of votes were cast in favor of the sale, exceeding the required approval threshold. The transaction, valued at $1.51 billion, was initially agreed upon in December 2025, with the completion of the sale expected in the first quarter of 2026, pending regulatory approvals and standard closing conditions.

For the fiscal year ending July 27, 2025, TC Transcontinental Packaging reported revenues of approximately $1.2 billion. The business operates out of 25 production sites and employs around 3,500 individuals, serving a diverse clientele across agriculture, beverages, consumer goods, and personal care sectors. Beyond its packaging operations, TC Transcontinental remains active in retail marketing, printing, and French-language publishing.

Industry Overview

The packaging industry in North America has demonstrated robust growth propelled by increasing demand for flexible packaging solutions. Companies are increasingly recognizing the benefits of flexible packaging, including cost