Packaging Industry M&A Activity Tracking
Global Packaging M&A tallied 17 deals in May, marking a 12-deal decline from April and a seven-deal retreat from May 2024 totals. Both domestic and foreign activity were weak in the month, a departure from recent activity which saw robust foreign activity that buoyed sluggish domestic demand. A cooling M&A appetite was also seen across strategic and financial buyers as both buyer classes recorded their slowest month thus far in 2025. Packaging M&A activity is still well above 2024 levels through five months of the year. Overall, May was a slow month for Global Packaging M&A, but this was likely the response to recent tariff announcements rather than a broad pullback in the M&A market.
- Protective Packaging recorded five deals in May, continuing a trend of high activity in the space. Through five months, 17 deals in the subsector were announced, over twice the pace of 2024. Conversely, eight fewer Machinery and Distribution deals were tallied in May 2025 compared to the prior year. Flexible packaging also had a slow month of activity with two deals announced, well below the year-to-date monthly average of five deals
- Both strategic and financial buyer activity decreased during the month. Strategic buyers have been less active in each month throughout 2025 thus far, contributing only seven deals in May. Platform acquisitions remained steady month-over-over while add-on volume fell sharply from April
- While foreign M&A activity has bolstered much of the sector’s activity over the past 18 months, this buyer group recorded eight transactions, much below the year-to-date monthly average of 17. Domestic activity was steady month-other-month at eight deals
- Transactions were spread consistently across Food & Beverage, Industrial, and Consumer end markets in May with five or six deals in each end market. Medical packaging did not record a deal during the month
Sources: S&P Capital IQ, Company Websites, Pitchbook, Company Reports, PMCF
Major News
- UFP Industries Pursues ‘Extremely Active’ M&A Strategy (Plastic News)
https://www.plasticsnews.com/news/ufp-industries-pursues-extremely-active-ma-strategy - Jamestown Container’s Foam Packaging Operations Sold (Plastics News)
https://www.plasticsnews.com/news/foam-packaging-operations-sold-new-york-state - Texas Bottle Bill Plan Has Bipartisan Support, PET Industry Backing (Plastics News)
https://www.plasticsnews.com/news/texas-bottle-bill-plan-has-bipartisan-support-pet-industry-backing - Washington Adopts Seventh Packaging EPR Law in the US (Packaging Dive)
https://www.packagingdive.com/news/washington-governor-ferguson-signs-packaging-epr-law/748421/ - Packaging manufacturers set big sustainability goals. How are they doing? (Packaging Dive)
https://www.packagingdive.com/news/sustainable-packaging-tracking-manufacturers-sustainability-goals-esg-ghg/693979/ - Employers Added 177,000 Jobs in April Despite Tariff Uncertainty (The Wall Street Journal)
https://www.wsj.com/economy/jobs/jobs-report-april-2025-unemployment-economy-6ad2bdac?mod=economy_feat5_jobs_pos5
Packaging M&A Update – February 2026
Global Packaging M&A tapered in February as 20 deals were announced in the sector, down more than 30% from prior month and prior year levels.
Plastics M&A Update – February 2026
Global Plastics M&A cooled off in February following a record-setting January with 31 transactions – down 21 from the prior month and seven from last February.
Packaging M&A Update – January 2026
Global packaging M&A maintained steady volume to open 2026 with 30 deals in January, which was in-line with historical levels for January but below the record 45 transactions announced in January 2025.
Plastics M&A Update – January 2026
52 global plastics M&A transactions were recorded in January 2026, which represented one of the most active months for plastics M&A since PMCF began tracking the sector.
Plastics M&A Update – December 2025
Global Plastics M&A posted 34 transactions in December, one deal fewer than both November and the 2025 monthly average.