Packaging Industry M&A Activity Tracking
Global Packaging M&A pulled back in February, recording 25 deals, which was a five-deal decrease compared to January but equal to last year’s volume. The decreased volume was attributable to lower levels of participation from strategic buyers. Although January activity levels were encouraging, Global Packaging M&A has recorded 25 or fewer deals in two of the last three months, which is correlated with less strategic buyer activity and a sign that volume may continue at the lower levels. The prospect of a rebound in Global Packaging M&A in 2024 is currently uncertain.
- Strategic buyers accounted for 12 deals, representing a decline of five deals from January levels. Strategic buyers have recorded ten or less deals in two of the last three months. In the second half of 2023, strategic buyers recorded fewer than ten deals in only two of the six months
- Financial buyers recorded 13 deals in February, matching volume from the prior month. Both add-on and platform acquisitions remain nearly in line with 2023 average monthly deal volumes
- The Flexible Plastic subsector has experienced a strong start to the year. The subsector met or exceeded the 2023 average monthly deal volume of four deals in both January and February
- The Paper subsector has had a slow start to the year when compared to 2023. Deals attributable to this subsector are down eight transactions from the prior year-to-date period, which is partly attributable to lower strategic buyer activity
- The Consumer end market recorded five deals in February and accounted for 20% of total deal activity. Notably, the Consumer end market has only accounted for 20% or more of the monthly deal mix in six of the last 12 months
Sources: S&P Capital IQ, Company Websites, Pitchbook, Company Reports, PMCF
Major News
- What Does the EU MDR Extension Mean for Packaging? (Packaging Digest)
https://www.packagingdigest.com/medical-packaging/what-does-the-eu-mdr-extension-mean-for-packaging- - EPA Sets PFAS Test for HDPE Containers, Faces New Suit in Inhance Case (Plastics News)
https://www.plasticsnews.com/news/epa-sets-pfas-test-hdpe-containers-faces-new-suit-inhance-case - Europe’s New Packaging Waste Regulation: Are Special Rules for Plastic Illegal? (Packaging Insights)
https://www.packaginginsights.com/news/europes-new-packaging-waste-regulation-are-special-rules-for-plastic-illegal.html - Jobs Growth of 353,000 Blasts Past Expectations as Labor Market Stays Hot (The Wall Street Journal)
https://www.wsj.com/economy/jobs/jobs-report-january-today-unemployment-economy-4f3a772e?mod=jobs_more_article_pos6 - Fed Minutes Show Unease Over Premature Cuts (The Wall Street Journal)
https://www.wsj.com/economy/central-banking/federal-reserve-minutes-jan-2024-rate-cuts-25f72187
Download Packaging M&A Update – February 2024
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.