MONTREAL – Transcontinental Inc.‘s shareholders have approved the sale of its packaging business to ProAmpac Holdings Inc.
The Montreal-based company says virtually all of the votes cast were in favour of the transaction.
Transcontinental announced the sale of its packaging business in December in a deal valued at $2.22 billion, including debt lease obligations.
At the time, the company said it expected to use proceeds from the sale to make a distribution to shareholders of $20 per share.
After the announcement of the deal, Transcontinental executive chair Isabelle Marcoux said she saw the move as delivering immediate and significant value to shareholders.
Transcontinental says the transaction is expected to close in the first quarter and is subject to regulatory approvals and other closing conditions.
This report by The Canadian Press was first published Feb. 2, 2026.
Companies in this story: (TSX:TCL.A, TSX:TCL.B)
