# TC Transcontinental sells paper and woven polypropylene packaging operations to Hood Packaging

TC Transcontinental agreed to sell its paper and woven polypropylene packaging operations to Hood Packaging Corporation for US$180 million, subject to working capital adjustments. Closing is expected in the first quarter of fiscal 2020.

- Type: Acquisition
- Announced: 2019-11-27
- Where: Spartanburg, South Carolina, United States
- Value: $180.0M
- Jobs: 415
- Status: announced
- Products: paper packaging, woven polypropylene packaging
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [TC Transcontinental](https://endata.com/companies/2421.md)
- [TC Transcontinental](https://endata.com/companies/2421.md) (partner)
- [Hood Packaging Corporation](https://endata.com/companies/5834.md) (acquirer)

## Sources

- [tctranscontinental.com](https://tctranscontinental.com/en-ca/company-overview/news-room/press-releases/tc-transcontinental-enters-into-a-definitive-agreement), 2019-11-27: "TC Transcontinental announced today that it has reached a definitive agreement to sell its paper and woven polypropylene packaging operations to Hood Packaging Corporation for a price of US$180 million"
- [lesaffaires.com](https://www.lesaffaires.com/bourse/actualites-boursieres/tc-transcontinental-cede-des-activites-demballage-pour-239-m-2/), 2019-11-27: "TC Transcontinental a conclu une entente avec Hood Packaging Corporation visant à lui céder ses activités d'emballage papier et de polypropylène tissé pour environ 239 millions $."
- [printcan.com](https://printcan.com/news/2019/20191204803.shtml), 2019-12-04: "TC Transcontinental has signed a deal to sell its paper and woven polypropylene packaging operations to Hood Packaging Corp. for about $239 million."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.