ProAmpac has announced the signing of a definitive agreement to acquire TC Transcontinental Packaging (TCP) from TC Transcontinental for around €1.28 billion, subject to customary adjustments for debt and debt-like items, cash, and net working capital.
TCP generated approximately around €1 billion in revenue during the last 12 months ending 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.
The acquisition of TCP is expected to 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. ProAmpac says it will assist with its development of ‘next-generation’ packaging including barrier films, mono-material structures, and fibre-based solutions.
Goldman Sachs is serving as lead financial advisor and J.P. Morgan Securities is serving as financial advisor to ProAmpac. Kirkland & Ellis and McCarthy Tétrault are serving as legal counsel to ProAmpac.
ProAmpac unveiled its ButterFresh Parchment butter wrap in September, designed to avoid both wax and PFAS and said to be home compostable, certified by TÜV Austria’s OK Compost Home. The pack is also designed to maintain its performance properties during the packing stage and be compostable at end-of-life.
In other business news, The European Commission recently granted unconditional approval for Mars’ $36 billion (€30,915,000,000) merger with Kellanova, ruling that the deal would not inflate the merged entity’s bargaining power. Upon closing of the deal - subject to customary closing conditions - Kellanova’s snacking brands including Pringles, Kellogg’s, Pop-Tarts, Rice Krispies Treats, and Cheez-It will be incorporated into the existing Mars Snacking portfolio.
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