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TC Transcontinental Closes Sale to Hood Packaging Corporation

Hood Packaging is a North American manufacturer of plastic film and bags, woven polypropylene bags, coated and laminated materials, and more.

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By: Anthony Locicero

Copy editor, New York Post

TC Transcontinental confirmed that it completed the sale of its paper and woven polypropylene packaging operations to Hood Packaging Corporation, as announced in November 2019.

The closing of this transaction enables the corporation to reduce its net indebtedness ratio to approximately 2.0x and gives it the flexibility needed to continue its transformation through targeted acquisitions.

Hood Packaging Corporation, a wholly-owned subsidiary of Hood Companies, Inc., acquires the following paper packaging operations and buildings of TC Transcontinental: Transcontinental Sibley, Iowa; Transcontinental Hanford, CA; Transcontinental Hazleton, PA; and Transcontinental Tifton, GA.

Also, Hood Packaging Corporation acquires the paper and woven polypropylene packaging operations at the Transcontinental Spartanburg, SC plant. 

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