Northwire Canada EditionSaturday, October 17, 2026
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M&A / Property

Transcontinental holders OK sale of packaging business

By The Northwire Desk — AI Analysis Feb 02, 2026 · 20:49 TCL · 23.34 Transcontinental Inc
TCL · Price

Executive Summary

  • TC Transcontinental shareholders approved the sale of its packaging business to ProAmpac Holdings Inc. at a special meeting held on the date of the release.
  • The transaction was approved by 99.98% of votes cast, exceeding the required 66-2/3% threshold for both Class A and Class B shareholders.
  • The deal is expected to close in the first quarter of 2026, pending regulatory approvals and other customary conditions.

Key Details

  • Transaction Structure: ProAmpac Holdings Inc. agreed to purchase, directly or indirectly, all issued and outstanding shares of the share capital of entities carrying on TC Transcontinental's packaging sector.
  • Shareholder Approval: Approved by 99.98% of votes cast.
  • Voting Threshold: Exceeded the legal requirement of 66-2/3% of votes cast by holders of Class A subordinate voting shares and Class B shares, voting together.
  • Timeline:
    • Stock Purchase Agreement Executed: December 7, 2025.
    • Agreement Announced: December 8, 2025.
    • Expected Closing: First quarter of calendar year 2026.
  • Conditions: Closing remains subject to regulatory approvals and other customary conditions.
  • Company Context: TC Transcontinental is a North American leader in flexible packaging, Canada's largest printer, and leader in French-language educational publishing, with approximately 7,600 employees and $2.7 billion in revenues for the fiscal year ended Oct. 26, 2025.

Notable Quotes

  • None provided in the text.
Read the original news release →

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