MONTREAL — Transcontinental Inc. has signed an agreement to sell its packaging business to ProAmpac Holdings Inc. in an deal valued at $2.22 billion, including debt lease obligations.
The company also says it expects to use the proceeds from the sale to make a distribution to shareholders of $20 per share.
Transcontinental executive chair Isabelle Marcoux says the transaction delivers immediate and significant value to shareholders.
The company says the deal requires shareholder approval and it expects to hold a vote on the plan by the end of January.
The transaction is expected to close in the first quarter of 2026.
Transcontinental’s class A subordinate-voting shares closed down 15 cents at $19.87 on the Toronto Stock Exchange on Friday.
This report by The Canadian Press was first published Dec. 8, 2025.
