Packaging Industry M&A Activity Tracking
Global Packaging M&A maintained its momentum in February 2025, with 32 deals announced following a very strong January. Activity levels surpassed the 2024 average monthly volume by seven transactions, driven by a surge in deals within the Rigid Packaging and Printing & Labels subsectors. Year-to-date deal volume for 2025 has risen by 40% compared to the same period in 2024, with 77 deals completed through two months, up from 55 in 2024. Overall, packaging M&A activity has been strong to start the year with February experiencing robust participation from both strategic and financial buyers, maintaining the trend set in January.
- Strategic buyers accounted for 18 deals in February, an increase of six compared to the prior year. This buyer group has announced 10 or more deals in each of the last five months, demonstrating a trend of elevated activity
- Financial buyers were responsible for 14 deals in February, a modest increase of one deal from February 2024. 12 add-on acquisitions were announced which was in line with 2024 averages
- Rigid Packaging and Printing & Labels saw increased deal volume in February, surpassing last year’s monthly levels by five and 10 deals, respectively, while other packaging subsectors experienced a slight decline from February 2024
- Domestic transactions continued to gain momentum, accounting for 44% of 2025 year-to-date volume, up from 31% during the same period in 2024. Deals involving one domestic party and one foreign party notched only three deals during the month which is lower than the historical average for these types of deals and is likely due to uncertainty around tariffs
- The Consumer end market experienced sustained growth month-over-month, reflecting a 4 deal increase from its record-setting 12 deals in January
Sources: S&P Capital IQ, Company Websites, Pitchbook, Company Reports, PMCF
Major News
- Packaging Execs Share How Tariffs Could Hurt or Boost Business (Packaging Dive)
https://www.packagingdive.com/news/packaging-ceos-tariffs-amcor-ball-crown-gpi-oi/739482/ - US and Canada Agree to 30-Day Pause on Tariffs (Packaging Dive)
https://www.packagingdive.com/news/trump-tariffs-delay-trudeau-canada/739115/ - Inflation Expected to Remain Above Fed’s Target (The Wall Street Journal)
https://www.wsj.com/articles/inflation-expected-to-remain-above-feds-target-9a9905d3?mod=Searchresults_pos2&page=2 - AI Unboxed: 5 Groundbreaking Packaging Innovations (Packaging Digest)
https://www.packagingdigest.com/artificial-intelligence/ai-unboxed-5-groundbreaking-packaging-innovations - The Economy is Still Fine. Americans are Still Gloomy (The Wall Street Journal)
https://www.wsj.com/economy/consumers/the-economy-is-still-fine-americans-are-still-gloomy-431a817c?mod=Searchresults_pos4&page=1 - Amcor’s Takeover of Berry Wins Shareholder Approval on Both Sides (Plastics News)
https://www.plasticsnews.com/news/amcors-takeover-berry-receives-shareholder-approval-both-sides
Download Packaging M&A Update – February 2025
