Packaging Industry M&A Activity Tracking
Global Packaging M&A recorded 29 deals in September, up two from August levels. September marked the first time since 2021 that packaging M&A recorded over 25 deals in consecutive months, and robust deal activity in recent months has led to a strong Q3. 75 transactions were recorded in the quarter which was 17 deals above Q2 levels and the most since Q4 2021. Overall, increased market participation amongst both strategic and financial buyers is a positive trend and a welcomed change after several months of below average activity to begin the year.
- Strategic buyers accounted for 14 deals in September and 36 deals in Q3. September was the second most active month of the year for strategic buyers, meanwhile, Q3 was the most active quarter of the year for this group
- Financial buyers recorded 39 deals in Q3, up 10 from the prior quarter. The quarter-over-quarter increase was largely due to Platform buyers, which recorded 21 deals in the quarter
- The Flexible Plastic and Rigid Plastic subsectors each posted their highest monthly volumes of the year in September, accounting for a combined 14 deals, or ~50% of all deal activity
- The Industrial end market posted its highest transaction volume level since Q4 2021, recording 35 deals in Q3. Furthermore, the end market has increased 15 deals from activity levels in the prior quarter
Despite lower volume in 2023 for the Global Packaging M&A market, back-to-back months of robust deal activity helped to close the strongest quarter in the last two years from a transaction volume standpoint and highlights the resiliency of the packaging M&A market. Positive trends exhibited in Q3 were encouraging despite lower demand, higher interest rates, and more challenging credit markets. If you are a packaging company considering a merger, acquisition, sale, or recapitalization in the short or longer term please consider leveraging PMCF’s transaction planning and execution expertise to best position your company in a transaction.
Sources: Capital IQ, PitchBook, Thomson Reuters, Company Reports, PMCF. Data as of September 30, 2023
Packaging M&A By Subsector
Total Packaging M&A By End Market
Packaging Transactions By Buyer Type
Notable M&A Activity
Public Entity Performance
Major News
- Job Gains Eased in Summer Months; Unemployment Increased in August (The Wall Street Journal)
https://www.wsj.com/economy/jobs/jobs-report-august-today-unemployment-economy-de847415?mod=jobs_more_article_pos6 - A Recession Is No Longer the Consensus (The Wall Street Journal)
https://www.wsj.com/economy/a-recession-is-no-longer-the-consensus-3ad0c3a3?mod=central-banking_news_article_pos1 - Unpacking PFAS Food Packaging Regulations in the US (Packaging Digest)
https://www.packagingdigest.com/food-safety/unpacking-pfas-food-packaging-regulations-us - US Finalizing Plans to Phase out Single-Use Plastics Across Public Lands (Plastics News)
https://www.plasticsnews.com/news/us-finalizing-plans-phase-out-single-use-plastics-across-public-lands - Plastics Treaty Must Avoid Climate Mistakes, UNEP Leader Says (Plastics News)
https://www.plasticsnews.com/news/plastics-treaty-must-avoid-climate-mistakes-unep-leader-says
Download Packaging M&A Update – September 2023
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.