Transcontinental (TCL-A) was up 9% on the back of its $30M+ acquisition of PDI Group, taking the company’s in-store marketing (ISM) segment to ~$300M of run-rate revenue…

… and offsetting sluggish organic growth. The deal comes on the heels of TCL’s $2B packaging unit divestiture, which should translate to improved margin performance in the back half of 2026…

… keeping the balance sheet healthy enough for more tuck-in ISM deals…

… as they advance the pipeline.

❝

We have 2 other ones in the pipeline also, a small one in the U.S. and one other one in the south of Montreal.

Donald LeCavalier (CFO) - TCL-A Q1/26 call

About Bullpen: Bullpen Finance Inc. publishes content on Canadian markets and provides paid research coverage of select Canadian issuers. Bullpen is paid in cash by covered issuers, does not accept stock or options, does not hold positions in covered securities, and does not conduct investment banking business. Bullpen and LodeRock Advisors Inc. are affiliated; LodeRock provides investor relations services to issuers, some of whom are covered by Bullpen Research. When a post discusses a covered issuer, a specific disclosure appears at the top of the post. This post is published for general information purposes. It is not personalized investment advice and is not tailored to any individual reader’s circumstances. Bullpen is not a registered investment adviser or dealer. For full disclosures, including analyst certification, jurisdictional statements, and conflict of interest policies, please see our Legal & Disclosures section on our website.

You might be interested in…