Packaging 2025 Sector Report
The global packaging sector entered 2025 with resilient fundamentals, supported by end-market and diversified demand, despite a softer macroeconomic backdrop.
- During 2025, packaging equity values experienced a marked decline, while precedent transaction multiples remained robust, evidencing a divergence between public markets and M&A pricing.
- Despite healthy M&A multiples, activity volumes continued their downward trend, with 183 global deals (192 transactions in 2024), reflecting greater selectivity and execution discipline across the market.
- Even with a more selective M&A environment, scaled and diversified platforms continued to command premium valuations, reinforcing consolidation as a long-term sector theme.
- Within the Irish packaging market, cross-border transactions remain a key driver of deal flow, as buyers pursue geographic expansion and operational synergies. Consistent with global market trends, transactions volumes were also down to 4 deals (down 50% from 8 transactions in 2024).
Highlighted Deals
- CD&R acquired Sealed Air Corporation a global food and protective packaging solutions provider, serving food processors, e-commerce, pharma, and industrial markets.
- Verallia Société Anonyme (a France-based manufacturer of glass bottles and jars for beverages and food markets serving the wine and drinks markets) was acquired by Brasil Warrant Investimentos.
- ProAmpac acquired TC Transcontinental Inc. packaging subsidiary, which manufactures plastic packaging products for food, consumer, industrial, and medical markets.
The global packaging sector declined in value terms in 2025 and underperformed broader equity markets. This has been accompanied by a slight decrease in packaging M&A activity relative to recent years.
- Since mid-2022, the S&P 500 has significantly outperformed the S&P 500 Containers & Packaging. Even adjusting for the “Magnificent 6” (Apple, Amazon, Alphabet, Meta, Microsoft & Nvidia), the adjusted S&P 500 is still outperforming S&P Containers & Packaging.
- Most notably, the S&P Containers & Packaging index declined by approximately 17% in 2025, impacted by the wider global trade tariff war which enveloped the largest global economies during the year.
- Global packaging M&A activity declined in 2025, with both overall deal volumes and mega-deal consolidation trending lower.
- A total of 183 deals were announced or completed, representing a approximately 5% decrease year-on-year.
Brian Barrett, a FOCUS Managing Director, has extensive expertise is in providing strategic advice to entrepreneurs, business owners and companies to assist them in achieving their strategic ambitions and preparing for significant value events. He has over 16 years of corporate finance experience working with SME’s, large corporate and semi state bodies across Ireland.
Barrett has successfully project management and complete many significant transactions across multiple sectors, including retail, technology, food & beverage, agriculture, logistics, banking, energy and leisure.
Barrett joined in 2019 and is a leading and experienced corporate finance advisor, who provides a broad range of activities from debt advisory, valuations, due diligence, strategic planning, along with buy / sell side services to our clients.
Barrett previously worked for IBI Corporate Finance and EY Transaction Advisory Services.
