Packaging Industry M&A Activity Tracking
Global Packaging M&A tallied 17 deals in May, marking a 12-deal decline from April and a seven-deal retreat from May 2024 totals. Both domestic and foreign activity were weak in the month, a departure from recent activity which saw robust foreign activity that buoyed sluggish domestic demand. A cooling M&A appetite was also seen across strategic and financial buyers as both buyer classes recorded their slowest month thus far in 2025. Packaging M&A activity is still well above 2024 levels through five months of the year. Overall, May was a slow month for Global Packaging M&A, but this was likely the response to recent tariff announcements rather than a broad pullback in the M&A market.
- Protective Packaging recorded five deals in May, continuing a trend of high activity in the space. Through five months, 17 deals in the subsector were announced, over twice the pace of 2024. Conversely, eight fewer Machinery and Distribution deals were tallied in May 2025 compared to the prior year. Flexible packaging also had a slow month of activity with two deals announced, well below the year-to-date monthly average of five deals
- Both strategic and financial buyer activity decreased during the month. Strategic buyers have been less active in each month throughout 2025 thus far, contributing only seven deals in May. Platform acquisitions remained steady month-over-over while add-on volume fell sharply from April
- While foreign M&A activity has bolstered much of the sector’s activity over the past 18 months, this buyer group recorded eight transactions, much below the year-to-date monthly average of 17. Domestic activity was steady month-other-month at eight deals
- Transactions were spread consistently across Food & Beverage, Industrial, and Consumer end markets in May with five or six deals in each end market. Medical packaging did not record a deal during the month
Sources: S&P Capital IQ, Company Websites, Pitchbook, Company Reports, PMCF
Major News
- UFP Industries Pursues ‘Extremely Active’ M&A Strategy (Plastic News)
https://www.plasticsnews.com/news/ufp-industries-pursues-extremely-active-ma-strategy - Jamestown Container’s Foam Packaging Operations Sold (Plastics News)
https://www.plasticsnews.com/news/foam-packaging-operations-sold-new-york-state - Texas Bottle Bill Plan Has Bipartisan Support, PET Industry Backing (Plastics News)
https://www.plasticsnews.com/news/texas-bottle-bill-plan-has-bipartisan-support-pet-industry-backing - Washington Adopts Seventh Packaging EPR Law in the US (Packaging Dive)
https://www.packagingdive.com/news/washington-governor-ferguson-signs-packaging-epr-law/748421/ - Packaging manufacturers set big sustainability goals. How are they doing? (Packaging Dive)
https://www.packagingdive.com/news/sustainable-packaging-tracking-manufacturers-sustainability-goals-esg-ghg/693979/ - Employers Added 177,000 Jobs in April Despite Tariff Uncertainty (The Wall Street Journal)
https://www.wsj.com/economy/jobs/jobs-report-april-2025-unemployment-economy-6ad2bdac?mod=economy_feat5_jobs_pos5
Plastics M&A Update – March 2026
Global Plastics M&A experienced recorded 38 transactions in March, representing an uptick of seven deals from the prior month and five deals from last March.
Packaging M&A Update – March 2026
Global Packaging M&A activity improved in March, with 27 deals announced.
Plastics M&A Pulse – 2025 Year In Review
Global Plastics M&A recorded its fourth consecutive year of deal volume growth with 420 transactions, highlighting a steady rebound following the record-setting activity of 2021.
Packaging M&A Pulse – 2025 Year In Review
The Global Packaging M&A market achieved its third consecutive year of growth in 2025 with 344 transactions, up 22 deals from 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.