Dive Brief:
- Cincinnati-based flexible packaging specialist ProAmpac agreed to acquire Chicago-based TC Transcontinental Packaging from parent company TC Transcontinental for approximately $1.51 billion, the companies announced Monday.
- ProAmpac says the acquisition will help it grow in dairy, meat, medical and pharmaceutical end markets, in addition to advancing the development of barrier films, monomaterial structures and fiber-based solutions.
- The deal is expected to close in the first quarter of 2026, subject to customary conditions.
Dive Insight:
ProAmpac is a company built through acquisitions, and its latest announcement is perhaps the most significant in its recent streak.
In October, ProAmpac acquired International Paper’s bag converting operations. In August, the company announced its acquisition of Pacific Northwest-based e-commerce packaging specialist PAC Worldwide. And in 2024, it acquired recycled kraft paper producer UP Paper as well as multiwall paper and poly-woven packaging maker Gelpac.
“We have 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 solutions,” said Michael Nelson, managing partner and head of investing at Pritzker Private Capital, which acquired ProAmpac in 2016. “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.”
ProAmpac and TCP are two of the biggest North American flexible packaging businesses. ProAmpac said this year it’s a $3 billion company, evenly split between plastic- and paper-based packaging, Plastics News reported.
TCP reportedly generated approximately $1.2 billion in revenue during the 12 months that ended July 27. TCP currently has approximately 3,500 employees and operates 25 production plants across North America, Latin America, the U.K. and New Zealand. Its offerings include shrink films, plastic bags and pouches, labels and more.
Last October, TC Transcontinental also sold its industrial packaging operations to Hood Packaging for $95 million.
TCP’s parent company, Montreal-based TC Transcontinental, is publicly traded on the Toronto Stock Exchange and also specializes in commercial printing and specialty media.
“As we approach our 50th anniversary, TC Transcontinental is once again reinventing itself. We are excited to open a new chapter in our history, with a sharp focus on advancing the transformation of our Retail Services & Printing and Educational Publishing businesses,” said TC Transcontinental board chair Isabelle Marcoux in the company’s own press release Monday.
