Packaging Industry M&A Activity Tracking
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. Announced transaction volume came in nine below the 2025 average monthly volume with only the Flexible Plastic subsector outpacing historical levels. In 2025, January and February represented the peak and third-highest months of activity for the full year, resulting in a meaningful variance in year-to-date deal count through two months of 2026. Overall, this slowdown in packaging M&A activity follows a period of steady deal flow and will be a trend to monitor in the coming months.
- Strategic buyers recorded 10 deals in February, declining from prior year levels by eight transactions. Activity from this buyer group represented half of all volume for the month, up from only 37% in January
- Financial buyers accounted for 10 deals in February, down four transactions from February 2025. Both add-on and private equity platform transactions were below the 2025 monthly average
- The Rigid Packaging, Flexible Plastic, and Paper subsectors made up 75% of all deal flow in February, up from 56% in February 2025. Meanwhile, activity in the Printing & Labels and Machinery & Distribution sectors declined from January levels and broadened the gap in year-to-date deal count
- Cross-border transactions levels remained down in the month, representing 20% of activity in February. Other geographical trends maintained with foreign transaction volume leading all geographies
- The Industrial end market led all others in deal announcements for the second consecutive month and accounts for more than half of all deal flow year-to-date
Sources: S&P Capital IQ, Company Websites, Pitchbook, Company Reports, PMCF
Major News
- Will EPR Actually Increase Recycling? (Packaging Dive)
https://www.packagingdive.com/news/epr-policy-purpose-recycling-producers-packaging-conference/812427/ - Digital Printing Poised to ‘Mature’ in 2026 (Packaging Dive)
https://www.packagingdive.com/news/digital-printing-outlook-2026-ai-brands/812508/ - How Packaging Manufacturers Performed in 2025 (Packaging Dive)
https://www.packagingdive.com/news/packaging-manufacturing-q4-2025-earnings-results-trends/811070/ - Germany Approves New Packaging Law Aligned with PPWR (Plastics News)
https://www.plasticsnews.com/public-policy/sp-germany-packaging-law-ppwr-2026/ - Consumer Confidence Improved In February (The Wall Street Journal)
https://www.wsj.com/economy/central-banking/consumer-confidence-improved-in-february-24c3b70e - Fed Minutes Reveal Little Appetite for Rate Cuts (The Wall Street Journal)
https://www.wsj.com/economy/central-banking/fed-minutes-reveal-little-appetite-for-rate-cuts-ccd48956
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.
Packaging M&A Update – December 2025
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…