Packaging Industry M&A Activity Tracking
Global Packaging M&A began the year on a high note recording 25 deals in January, which represents a month-over-month increase of six deals. Deal activity in the month was primarily driven by private equity add-on transactions, which accounted for 13 deals. After historic levels of transaction activity in 2021, Packaging M&A over the past year has been hampered by macroeconomic uncertainty and rising interest rates, but January deal activity rose above the average monthly volume from 2022 and was a welcome uptick in deal activity.
- Private equity platform transactions continued to be lower in January 2023, given challenging credit markets. Meanwhile, private equity add-on activity remained strong, accounting for 52% of deal volume
- Strategic volume was down one transaction in the month relative to January 2022. Strategic buyers remained on pace with the average monthly volume seen in H2 2022
- Paper Packaging transactions led all Packaging subsectors, accounting for 12 deals in the month. January’s transaction volume represents the subsector’s best month since last July
- Rigid Plastic transactions accounted for six deals on the month, which was above the subsector’s monthly average of four in 2022
- The Consumer end market accounted for 14 deals in the month and led all end markets. Deal activity for the end market in January matched the 2022 high and represented a month-over-month increase of seven deals
Overall, Global Packaging M&A transaction activity posted a strong month when compared to the second half of 2022. Notably, the current level of packaging deal volumes is in line with pre-pandemic levels. It remains too early to tell if January levels will continue in the first half 2023. If you are a packaging company considering a merger, acquisition, sale, or recapitalization in the short or long 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 January 31, 2023
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
- U.S. Nears Debt Ceiling, Begins Extraordinary Measures to Avoid Default (Wall Street Journal)
https://www.wsj.com/articles/treasury-to-begin-extraordinary-measures-to-pay-bills-amid-debt-ceiling-debate-11674091179?mod=Searchresults_pos1&page=1 - Labor Market Boom Cooled Some in 2022 (Wall Street Journal)
https://www.wsj.com/articles/labor-market-boom-cooled-some-in-2022-11673024967?mod=Searchresults_pos12&page=2 - Researchers Examine Impact of Single-Use vs. Reusable Takeout Containers (Plastics News)
https://www.plasticsnews.com/news/single-use-vs-reusable-containers-examined-university-michigan-research - Packaging by the Numbers 4Q22 (Packaging Digest)
https://www.packagingdigest.com/packaging-design/packaging-numbers-4q22 - A Packaging Review of the Global Commitment 2022 Report (Packaging Digest)
https://www.packagingdigest.com/sustainability/packaging-review-global-commitment-2022-report
Download Packaging M&A Update – January 2023
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.