TC Transcontinental completes sale of its Packaging Business to ProAmpac Holdings Inc.

MONTREAL, March 06, 2026 (GLOBE NEWSWIRE) -- Transcontinental Inc. (TSX: TCL.A TCL.B) ("TC Transcontinental" or the "Corporation") is pleased to announce that it has completed the previously announced sale of its Packaging Business to ProAmpac Holdings Inc. for cash proceeds of $2.1 billion⁽¹⁾.

“The closing of the sale of our Packaging business represents a key milestone for TC Transcontinental,” said Isabelle Marcoux, Executive Chair of the Board. “I want to thank all our packaging employees for their dedication and engagement in building this business  for over a decade. This transaction will allow us to focus our resources on our Retail Services & Printing and Educational Publishing activities.”

The Corporation expects to distribute approximately $20.00 per share (the “Distribution”) to shareholders, through: (i) a reduction of stated capital (the “Capital Reduction”) of approximately $7.00 per Class A Share and (ii) a cash dividend distribution for the balance of the expected Distribution. Any Capital Reduction is subject to shareholder approval. More information regarding the distribution will be provided on March 10, 2026, following the release of the results for the first quarter of fiscal 2026 and the Annual and Special meeting of shareholders.

^{(1) Converted at an exchange rate of 1.37 CAD/USD}

Forward-looking statement

This press release contains forward-looking statements regarding the anticipated distribution of approximately $20.00 per share which are based on the expectations of management and inherently subject to a certain number of risks and uncertainties, known and unknown. By their very nature, forward-looking statements are derived from both general and specific assumptions. The Corporation cautions against undue reliance on such statements since actual results or events may differ materially from the expectations expressed or implied in them.

The Corporation disclaims any obligation to update forward-looking statements except as required by law.

About TC Transcontinental

Founded 50 years ago and 4,000 employees strong, Transcontinental Inc. (TSX: TCL.A TCL.B), known under the TC Transcontinental brand, is a Canadian retail marketing services company, Canada's largest printer, and the Canadian leader in French-language educational publishing. Driven by the vision of a more informed, educated and prosperous society, TC Transcontinental propels its clients' success across the retail, education, book and information industries. With agility, creativity and boldness, we design and deliver innovative, high-value products and services. 

The Corporation's revenues from continuing operations were $1.1 billion for the fiscal year ended October 26, 2025. Until the sale of its Packaging Sector to ProAmpac, which was completed on March 6, 2026, the Corporation was also a North American leader in flexible packaging with approximately 3,600 employees, and revenues from the Corporation's discontinued operations were $1.6 billion for the fiscal year ended October 26, 2025. For more information, please visit www.tc.tc.