Packaging Industry M&A Activity Tracking
Global Packaging M&A recorded 20 deals in September and 65 transactions in the 3rd quarter, which was slightly lower than last month but overall on par with 2nd quarter deal volume. M&A activity in the quarter was led by an active private equity buyer base and a strong Paper packaging subsector. Overall, Packaging M&A activity remains well below elevated levels experienced last year and continues to trend slightly below pre-pandemic levels experienced in 2018 and 2019.
- The Consumer end market recorded its best quarter of the year in Q3, accounting for 27 deals, which was up nine transactions from Q2 and was five deals higher than its best quarter in 2021
- Private equity transactions in Q3 remained robust, increasing by six deals from Q2. Additionally, Q3 marks the second quarter in 2022 that private equity transactions have accounted for over 50% of deal activity
- The Paper subsector recorded 36 deals in the quarter and accounted for over 55% of transactions, which is the first time the Paper subsector has accounted for over 50% of deals since Q4 2021
- Flexible Plastic transaction activity slowed in September, recording two deals, which was down six transactions when compared to August. The Flexible Plastic subsector recorded 11 deals in Q3, up one transaction from Q2 2022
Global Packaging M&A closed Q3 with deal volumes comparable to the prior quarter but still lower than levels experienced prior to the COVID-19 pandemic. Packaging transaction multiples appear to be continuing at elevated levels but some sellers seem reluctant to launch processes in the uncertain environment or, in other cases, are holding off until company financial performance shows more positive trends. If you are a packaging company considering a merger, acquisition, sale or recapitalization in the short or longer term, please consider leveraging PMCF’s transaction planning and execution expertise to best position your company in a transaction.
Sources: Capital IQ, PitchBook, Thomson Reuters, Company Reports, PMCF. Data as of September 30, 2022
Packaging M&A By Subsector
Total Packaging M&A By End Market
Packaging Transactions By Buyer Type
Notable M&A Activity
Public Entity Performance
Major News
- Economic Good News: Inflation and Supply Chain Issues Easing (Plastics News)
https://www.plasticsnews.com/news/economic-good-news-inflation-and-supply-chain-issues-easing - U.S. Jobless Claim Hit Lowest Level in Five Months (Wall Street Journal)
https://www.wsj.com/articles/u-s-jobless-claims-hit-lowest-level-in-five-months-11664455866?mod=Searchresults_pos7&page=1 - 10 States Ask Biden for “Aggressive” Action on Single-Use Plastic Buying (Plastics News)
https://www.plasticsnews.com/public-policy/10-states-want-aggressive-biden-policy-plastic-procurement - Reuse is on the Rise, but “Much More Needs to be Done” (Packaging World)
https://www.packworld.com/news/business-intelligence/article/22432226/new-smithers-report-on-reusablerefillable-packaging - How the U.S. is Making a Bottom-Up Recovery (Wall Street Journal)
https://www.wsj.com/articles/how-the-u-s-is-making-a-bottom-up-recovery-11664404427?mod=Searchresults_pos5&page=5
Download Packaging M&A Update – September 2022
Packaging M&A Update – June 2026
Global Packaging M&A held steady in June with 27 transactions, in line with May and three deals above June 2025.
Plastics M&A Update – June 2026
Global Plastics M&A accelerated in June, with 46 transactions announced, an increase of 10 from May and eight from June 2025.
Packaging M&A Update – May 2026
Global Packaging M&A activity slowed slightly in May, with 27 deals announced. While this reflected only a one-deal decrease compared to April, activity rebounded meaningfully from May 2025, with ten more transactions announced.
Plastics M&A Update – May 2026
Global Plastics M&A recorded 36 transactions in May, increasing by five deals from April and seven from May 2025, bringing year-to-date volume to 188 transactions.
Packaging M&A Update – April 2026
Global Packaging M&A activity remained stable in April, with 28 deals announced, one fewer than April 2025 and slightly above March levels. Through the first four months of 2026, 105 deals have been announced, a 27-deal decrease from the prior-year period.