Packaging Industry M&A Activity Tracking
Global Packaging M&A posted 27 transactions in August, up eight from July levels. Transaction activity in the month was at its highest level since March 2022, driven by a rebound in strategic buyer transactions. Financial buyer activity was mixed in the month as platform private equity deal levels remained elevated in August, while add-on acquisitions recorded their weakest month of 2023. Overall, August transaction levels were significantly above average monthly deal volumes due to a balanced level of activity from both strategic and financial buyers.
- In August, strategic buyers accounted for 15 deals, or 55% of deal volume, which was an increase of eight deals over July levels. Transaction volumes attributable to Strategic buyers were at their highest levels since December 2021
- Financial buyers recorded 12 deals for the second consecutive month. Platform acquisitions recorded eight transactions, up one from July, and registered their highest month from a deal volume standpoint since June 2021 despite higher interest rates and challenging credit markets
- The Paper Packaging subsector recorded 15 deals in August, up nine from July levels. The subsector’s strong month was driven by a resurgence in Corrugated and Folding Carton deals
- The Industrial end market posted 13 transactions in August, which represents the end market’s best month since 2021. When compared to year-to-date 2022 levels, the end market has recorded two additional deals in 2023
Although Global Packaging M&A has experienced lower deal volumes in 2023, strong activity from both strategic and financial buyers in August was an encouraging sign for the Packaging M&A market. Notably, the uptick in deal activity in August was primarily due to increased private equity platform activity which has led to a more positive outlook for the remainder of 2023. 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 August 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
- Packaging by the Numbers 2Q2023 (Packaging Digest)
https://www.packagingdigest.com/market-research/packaging-numbers-2q23/gallery?slide=8 - U.S. Seeks Middle Ground in Deeply Divided Plastics Treaty Talks (Plastics News)
https://www.plasticsnews.com/news/us-seeks-middle-ground-plastics-treaty-talks - Reusable and Refillable Packaging Sales to Reach $53.4 Billion by 2027, says Smithers (Plastics News)
https://www.plasticsnews.com/news/reusable-and-refillable-packaging-sales-reach-534-billion-2027-says-smithersreusable - Recession Fears Have Been ‘Blown Out of the Water,’ Long-Serving Fed President Says (The Wall Street Journal)
https://www.wsj.com/economy/central-banking/recession-fears-have-been-blown-out-of-the-water-long-serving-fed-president-says-da0b5461?mod=central-banking_more_article_pos19 - Job Market Cools but Is Far From Freezing (The Wall Street Journal)
https://www.wsj.com/economy/jobs/job-market-cools-but-is-far-from-freezing-b9fb7f7f?mod=jobs_more_article_pos2
Download Packaging M&A Update – August 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.