Packaging Industry M&A Activity Tracking
Global Packaging M&A activity remained strong in December with 29 deals announced, representing an increase of two transactions month-over-month and four transactions compared to December 2024. Strategic buyers led the market with 19 deals, exceeding 2025 monthly averages and offsetting softer activity from financial buyers. Strategic buyers remain a significant driver of packaging M&A activity, accounting for just over half of the total transaction volume in both 2024 and 2025. Overall, 2025 deal activity ended on a high note, with annual volumes exceeding prior year’s levels by 22 transactions. Following this steady end to 2025, the packaging M&A market enters 2026 with positive momentum.
- Both the Rigid Packaging and Flexible Plastic subsectors saw strong monthly performance, recording nine and eight deals, respectively. Their 17 combined transactions in December significantly outpaced November’s total of six deals and doubled the prior December’s total of eight. Meanwhile, after two consecutive months of double-digit volume, Paper Packaging M&A activity slowed, notching just four deals in the month
- Strategic buyers dominated packaging M&A activity in December with 19 deals, marking the second most active month for this buyer type in 2025. Conversely, private equity activity lagged during the month, with platform and add-on transactions recording just four and six deals, respectively
- Deals involving two foreign parties meaningfully drove volume with 19 deals, matching the year’s high-water mark for the fourth time. Meanwhile, domestic M&A notched just seven deals, falling four transactions shy of the 2025 average
- Recording 12 transactions in December, the Food & Beverage end market cemented its top spot for 2025 with 114 total deals. The end market saw a 20 deal increase from 2024, when it finished behind the Industrial end market in total activity
Sources: S&P Capital IQ, Company Websites, Pitchbook, Company Reports, PMCF
Major News
- Brazil to Mandate Recycled Content in Plastic Packaging from 2026 (Plastics News)
https://www.plasticsnews.com/public-policy/sp-brazil-recycled-content-packaging-2026/ - India’s Food Authority Plans PFAS, BPA Ban to Align with EU Rules (Plastics News)
https://www.plasticsnews.com/public-policy/sp-fssai-pfas-bpa-ban/ - 10 Packaging Expansion Announcements to Close Out 2025 (Packaging Dive)
https://www.packagingdive.com/news/packaging-production-expansions-pratt-plastipak-polyflex-temperpack-polyzen-questar/808023/ - What Supply Chain Factors Would Bring Manufacturing Back to the US? (Packaging Digest)
https://www.packagingdigest.com/trends-issues/what-supply-chain-factors-would-bring-manufacturing-back-to-the-us- - Fed Minutes Suggest Caution About Further Cuts Early Next Year (The Wall Street Journal)
https://www.wsj.com/economy/central-banking/fed-minutes-suggest-caution-about-further-cuts-early-next-year-f36148c7?mod=central-banking_more_article_pos1 - The U.S. Economy Keeps Powering Ahead, Defying Dire Predictions (The Wall Street Journal)
https://www.wsj.com/economy/consumers/the-u-s-economy-keeps-powering-ahead-defying-dire-predictions-f064a402?mod=consumers_news_article_pos3
