TC Transcontinental at a glance


$2.6B Revenues 2020



Close to
8,000 employees


41 operating 


TC Transcontinental is a leader in flexible packaging in the United States, Canada and Latin America. It is also Canada’s largest printer. 

Our mission: create quality products and services that allow businesses to attract, reach and retain their target customers.

Our vision: become a market leader in flexible packaging in North America while maintaining our position as Canada’s largest printer and as the leading Canadian French-language educational publishing group.

Our three-pronged strategy is:

  1. Grow our Packaging Sector through organic sales growth and acquisitions;
  2. Optimize our printing platform and capture growth opportunities in promising verticals; 
  3. Grow our book publishing and Groupe Constructo activities through organic growth and acquisitions.

New Web section dedicated to sustainable flexible packaging  Discover our new web section dedicated to sustainable flexible packaging!

Key Investment Considerations

  • Ability to generate significant cash flows
  • Leader in most of our verticals
  • Solid relationships with our customers
  • History of dividend growth
  • Family-controlled business with a long-term vision
  • Investment grade credit rating
  • Pursuing our business activities in a responsible manner
Committed to long-term value creation

TC Transcontinental is driven by a long-term vision. Over the years, we have adapted to trends in the industries where we operate in order to reinvent ourselves and ensure our continuity. As a family-controlled corporation, our ambitions are clear: continue to build for profitable and lasting growth. This is why we made a strategic shift into flexible packaging, a promising growth axis for the Corporation. Thanks to our solid financial performance and healthy balance sheet, we have built an extensive packaging platform through several strategic acquisitions. Since its acquisition in 2018, we fully integrated the operations of Coveris Americas, thus positioning ourselves as a leader in flexible packaging in North America. In only five years, our revenues from this sector went from 2% to 55% of our consolidated revenues. We are all committed to pursuing our transformation in order to create long-term value for our stakeholders.

Evolution of our consolidated1 revenue composition

Evolution of our consolidated revenue composition

Committed to operational excellence

TC Transcontinental is recognized for its solid track record of continuous improvement and manufacturing excellence. Over the past few years, despite a decline in revenues in the Printing Sector, we have implemented operational efficiency measures to protect our profitability. In addition, in the Packaging Sector, we succeeded in increasing our operating earnings margin before depreciation and amortization since the acquisition of Coveris Americas in May 2018. The Corporation also continuously generates significant cash flows from its operating activities. For the last fiscal year, they totalled $427 million.

Cash flows from continuing operating activities

Cash flows from continuing operating activities

Committed to the dividend

The Corporation has always focused on the dividend paid to shareholders: since 2010, the dividend has increased at a compound annual growth rate (CAGR) of 9.8%. We strive to achieve a fair balance in our capital allocation between debt repayment, dividend payments, share buybacks and reinvesting in growth, namely for targeted acquisitions. In FY2020, dividends paid of $77.9 million represent only 18.2% of cash flows from operating activities.

Dividends paid per participating share

Dividends paid per participating share

Committed to maintaining a solid financial position and an investment grade credit rating

Maintaining a healthy financial position and an investment grade credit rating has always been among the Corporation’s primary objectives. We manage our capital prudently and effectively, while allowing a temporary increase in our indebtedness level in order to implement our strategic plans. During 2018, our net indebtedness1 increased significantly when we acquired Coveris Americas to crystallize our shift into flexible packaging. As we have done in the past, we will now concentrate on reducing our net indebtedness1 level over the coming quarters to increase our financial flexibility. Since July 2018 and excluding lease liabilities, we reduced our net indebtedness1 by approximately $700 million.

1 Non-IFRS financial measure. A complete definition of the non-IFRS financial mesures and reconciliation to IFRS financial measures are presented in the Management’s Discussion and Analysis of the latest annual report. 

Net indebtedness1 (in millions of dollars) and net indebtedness1 ratio 

Net indebtedness and net indebtedness ratio

A responsible corporate citizen

Over time, TC Transcontinental has distinguished itself as a high-performing organization, which acts according to its values and demonstrates leadership in operating its activities in a responsible manner. As we pursue our transformation into flexible packaging for long-term growth, we intend to remain a leader in corporate social responsibility namely by setting objectives to reduce our environmental footprint. 


Best50 Logo

Among the Best 50 Corporate Citizens in Canada (10th place in 2020)

CDP Logo

Participates in the Carbon Disclosure Project since 2012

Global Commitment

Signatory of the Ellen MacArthur Foundation’s New Plastics Economy Global Commitment

JSI Logo

Included in the Jantzi Social Index® since 2004

UN Global Compact

Participates in the United Nations Global Compact since 2020