ProAmpac seals US$1.51B deal to acquire TC Transcontinental Packaging

USA – ProAmpac has entered into an agreement to purchase Chicago-headquartered TC Transcontinental Packaging from its parent company, Montreal-based TC Transcontinental, for around US$1.51 billion. 

The transaction, revealed on Monday, marks a key step in ProAmpac’s expansion within the flexible packaging sector, particularly in areas emphasizing sustainability.

This acquisition will enable ProAmpac to extend its reach into dairy, meat, medical, and pharmaceutical markets. 

It also supports ongoing work in barrier films, monomaterial structures, and fiber-based options, which aid in creating more recyclable and eco-friendly packaging. 

The combined entity will operate across North America, Latin America, the U.K., and New Zealand, with TC Transcontinental Packaging contributing 25 production facilities and about 3,500 staff members.

ProAmpac, which reported US$3 billion in annual revenue this year, split equally between plastic- and paper-based products, has pursued steady growth through mergers. 

Recent moves include the October purchase of International Paper’s bag converting operations, the August acquisition of e-commerce specialist PAC Worldwide in the Pacific Northwest, and 2024 deals for recycled kraft paper maker UP Paper and multiwall paper producer Gelpac. 

TC Transcontinental Packaging alone posted roughly US$1.2 billion in sales over the 12 months ending July 27.

Michael Nelson, managing partner and head of investing at Pritzker Private Capital, the firm that took over ProAmpac in 2016, highlighted the strategic fit. 

He noted that the company has shown a steady dedication to expansion, both through internal development and buys, to address client needs for greener packaging. 

The addition of TC Transcontinental Packaging brings in a strong player with fresh approaches in matching sectors and widens ProAmpac’s regional coverage.

The publicly traded company, listed on the Toronto Stock Exchange and active in commercial printing and specialty media, divested its industrial packaging unit to Hood Packaging for US$95 million last October. 

Isabelle Marcoux, board chair at TC Transcontinental, described the move as part of the firm’s evolution ahead of its 50th anniversary. 

She said the company aims to sharpen its efforts in transforming retail services, printing, and educational publishing operations.

The deal awaits standard approvals and is set to finalize in the first quarter of 2026. In parallel developments, the sustainable packaging field sees fresh innovations. 

On December 8, IWK Packaging Systems rolled out a recyclable cardboard blister machine for North America, offering an alternative to conventional plastics in pharmaceutical and consumer goods. 

Meanwhile, Kenya’s PAKPRO is advancing circular economy efforts through better waste management for fiber-based packaging, helping reduce landfill contributions in emerging markets. 

These steps highlight growing momentum toward the use of recyclable materials globally, complementing major industry consolidations such as ProAmpac’s latest venture.

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