Packaging Industry M&A Activity Tracking
Global Packaging M&A posted 21 deals in September, down two transactions from August levels and nine from activity recorded in September 2023. Financial buyers remained steady in activity, tallying 12 deals, while strategic buyer activity was below 2024 averages. To date, 227 deals have been posted, which is 17 more than the 210 posted in 2023 through the same period. The Rigid Packaging, Paper, and Machinery & Distribution subsectors accounted for the most deals during the month, with each posting at least six deals. Despite lower deal volumes in September, 2024 is still on track to be a strong year for Global Packaging M&A
- Rigid Packaging led all packaging subsectors in deal volume during September, posting seven deals during the month. This represented a two deal decrease from September 2023. Machinery & Distribution was the only subsector to see increased deal flow when compared to the same period in 2023
- On the year, Machinery & Distribution and Protective Packaging are the only two subsectors with more deal activity in 2024 than 2023. Together, these subsectors have recorded 25 additional deals this year
- Financial buyer activity remained steady during the month with 12 deals. Strategic buyer activity waned in September, posting nine transactions, five fewer than September 2023 and the 2024 average
- Deals across geographies remained in line with prior 2024 results. Foreign transactions led all other types with nine deals, or just over 40% of all activity. Domestic transactions followed closely behind with eight transactions in September
- M&A activity was varied by end market with no single market accounting for more than 33% of all deals. Medical had its strongest month of the year, posting 25% of its total 2024 volume in the month
Sources: S&P Capital IQ, Company Websites, Pitchbook, Company Reports, PMCF
Major News
- Sonoco Puts Thermoforming, Flexible Packaging Business in Play (Plastics News)
https://www.plasticsnews.com/news/sonocos-flexible-packaging-thermoforming-business-potentially-sale - Industry Backs Proposed Federal Plastics Recycling Bill (Plastics News)
https://www.plasticsnews.com/public-policy/federal-plastics-proposal-echoes-industry-priorities-recycling - Packaging Updates Anticipated in Biden Administration’s Waning Months (Packaging Dive)
https://www.packagingdive.com/news/biden-regulatory-agenda-green-guides-plastic-pollution-strategy/726171/ - Fed Cuts Rates by Half Percentage Point (The Wall Street Journal)
https://www.wsj.com/economy/central-banking/fed-cuts-rates-by-half-percentage-point-03566d82?mod=central-banking_more_article_pos57 - ExxonMobil Sued by California over Recycling Claims (Packaging World)
https://www.packworld.com/sustainable-packaging/article/22921457/exxonmobil-sued-by-california-over-recycling-claims - S. Hiring Accelerated in September, Blowing Past Expectations (The Wall Street Journal)
https://www.wsj.com/economy/jobs/jobs-report-september-unemployment-economy-dfa7c99f?mod=jobs_news_article_pos2
Download Packaging M&A Update – September 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.