ProAmpac Invests $1.51 Billion in Strategic Acquisition of TCP to Strengthen Global Sustainable Packaging Reach

Through strategic acquisitions, ProAmpac has entered the dairy, meat, medical, and pharmaceutical packaging sectors.

This transaction will increase production capacity in multiple locations in North America, Latin America, the United Kingdom, and New Zealand.

The merged entity will accelerate the research and development process of barrier membranes, single-material, and fiber-based solutions.

On December 9, ProAmpac announced that it has signed a definitive agreement to acquire TC Transcontinental Packaging (referred to as TCP) from the TC Transcontinental Group for $1.51 billion. The transaction amount will be subject to customary adjustments based on debt and debt-like items, cash, and net working capital.

As of July 27, 2025, TCP achieved revenue of approximately $1.2 billion in the past 12 months. The transaction is expected to be completed in the first quarter of 2026, subject to shareholder approval, regulatory permits, and other customary closing conditions.

TCP: A Strong Partner in Strategic Alignment

ProAmpac is positioned in the global packaging market with advantages in sustainability, responsiveness, and material science. TCP is highly strategically aligned with ProAmpac, adding advanced service capabilities in the dairy, meat, medical, and pharmaceutical end markets, and supplementing production capacity in North America, Latin America, the UK, and New Zealand. This merger will further accelerate the development of ProAmpac's next-generation packaging solutions, including barrier films, mono-material structures, and fiber-based products, helping customers achieve value creation and sustainability goals.

Transformational Milestone

"This acquisition is a transformative milestone for both ProAmpac and TCP. Through TCP, ProAmpac will expand its end-market presence to include protein products, dairy, and medical fields, while also broadening its global geographic coverage," said Greg Tucker, Founder, Vice Chairman, and CEO of ProAmpac. "We are committed to working together to provide our customers with high-performance and increasingly sustainable packaging solutions. TCP shares ProAmpac's commitment to excellence, customer-centric philosophy, and integrity, and we warmly welcome the TCP team to the ProAmpac family."

High cultural compatibility

"I believe that TCP has found its ideal new home in ProAmpac," said Isabelle Marcoux, Executive Chair of the Board of Transcontinental Inc. "Like TC Transcontinental, ProAmpac's business development has always been centered around helping customers succeed. Based on this common background, I am confident that ProAmpac and TCP have a high degree of cultural alignment, and the combined entity will be better positioned to create greater value for customers. I would like to thank all the outstanding employees of TCP for their efforts and contributions to TC Transcontinental, and I am pleased for them as they embark on a new journey as part of ProAmpac."

Long-term commitment and perseverance

"We consistently uphold a long-term commitment to develop ProAmpac as a leading packaging supplier, driven by both organic growth and acquisition expansion, to meet customers' needs for more sustainable packaging solutions," said Michael Nelson, Managing Partner and Chief Investment Officer of PPC. "The acquisition of TCP is a continuation of this strategy, introducing ProAmpac to a highly regarded provider of innovative solutions in complementary markets and expanding its global footprint. Additionally, I want to thank the teams at ProAmpac, TC Transcontinental, and TCP for all their efforts in facilitating this exciting merger."