ProAmpac to Acquire TC Transcontinental Packaging from TC Transcontinental

Acquisition Will Expand ProAmpac’s Global Footprint in Sustainable Packaging Solutions and Material Science Expertise

CINCINNATI--(BUSINESS WIRE)--ProAmpac, a global innovator in flexible packaging and material science, announced today that it has signed a definitive agreement to acquire TC Transcontinental Packaging (“TCP”) from TC Transcontinental (TSX: TCL.A TCL.B) for US$1.51 billion (approximately CAD$2.1 billion), subject to customary adjustments for debt and debt-like items, cash, and net working capital. TCP generated approximately US$1.2 billion in revenue during the last 12 months ended July 27, 2025. The transaction is expected to close in the first quarter of calendar 2026, subject to shareholder approval, regulatory approvals and other customary conditions.

ProAmpac 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. 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.

“This acquisition is a transformative milestone for ProAmpac and TCP. Through TCP, ProAmpac is broadening its end-market focus to include protein, dairy, and medical segments, and expanding its geographic presence. Together we are committed to delivering high-performing and increasingly sustainable packaging solutions to customers,” said Greg Tucker, Founder, Vice Chairman, and Chief Executive Officer of ProAmpac. “TCP and ProAmpac share the same dedication to excellence, customer focus, and doing business the right way. We are thrilled to welcome the TCP team into the ProAmpac family.”

“I believe that TCP has found an exciting new home with ProAmpac. Like TC Transcontinental, ProAmpac has built its business with a relentless focus on helping customers succeed. With this common background, I am confident that ProAmpac will be a strong cultural fit for TCP and that the combination will be well positioned to deliver increased value to customers,” said Isabelle Marcoux, Executive Chair of the Board, Transcontinental Inc. “We are thankful for the efforts and contributions of TCP’s extraordinary employees to TC Transcontinental and are excited for their next chapter as part of ProAmpac.”

“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. 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,” said Michael Nelson, Managing Partner and Head of Investing at PPC. “In addition, I would like to thank the teams at ProAmpac, TC Transcontinental and TCP for all their efforts toward making this exciting combination a reality.”

Goldman Sachs is serving as lead financial advisor and J.P. Morgan Securities LLC is serving as financial advisor to ProAmpac. Kirkland & Ellis LLP and McCarthy Tétrault LLP are serving as legal counsel to ProAmpac.

About ProAmpac

ProAmpac is a global flexible packaging company with a comprehensive product offering. The company provides creative packaging solutions, industry-leading customer service and award-winning innovation to a diverse global marketplace. ProAmpac’s approach to sustainability – ProActive Sustainability -- provides innovative sustainable flexible packaging products to help customers achieve their sustainability goals. The company is guided in its work by five core values that are the basis for its success: Integrity, Intensity, Innovation, Involvement, and Impact. Cincinnati-based ProAmpac is owned by PPC along with management and co-investors. For more information, visit ProAmpac.com.

About TC Transcontinental Packaging (“TCP”)

Headquartered in Chicago, TC Transcontinental Packaging (“TCP”) is the packaging sector of Transcontinental Inc. With approximately 3,500 employees, TC Transcontinental Packaging operates 25 production plants, located throughout North America, Latin America, the United Kingdom, and New Zealand, which specialize in extrusion, printing, lamination, converting, and recycling. The company offers a wide variety of flexible products, serving customers across the dairy, coffee, meat and poultry, pet food, agriculture, beverage, home and personal care, consumer, and medical markets.

About TC Transcontinental

Transcontinental Inc. (TSX: TCL.A TCL.B), known as TC Transcontinental, is a North American leader in flexible packaging, a Canadian retail marketing services provider, Canada’s largest printer, and the Canadian leader in French-language educational publishing. Founded in 1976, TC Transcontinental's mission has been to create quality products and services that allow businesses to attract, reach and retain their target customers. Respect, teamwork, performance and innovation are the strong values held by the Corporation and its employees. TC Transcontinental's commitment to its stakeholders is to pursue its business activities in a responsible manner. TC Transcontinental has approximately 7,600 employees, the majority of which are based in Canada, the United States and Latin America. TC Transcontinental generated revenues of CAD$2.8 billion during the fiscal year ended October 27, 2024. For more information, visit TC Transcontinental's website at www.tc.tc.

About PPC

PPC is a family-oriented investment firm that specializes in partnering with family-, founder- and management-owned companies in the manufactured products and services sectors. The firm's differentiated investor base, which is anchored by family investors, allows for aligned decision-making, flexible transaction structures, and a focus on achieving long-term business objectives. For more information, visit PPCPartners.com.