Packaging M&A Update

RESOURCE HIGHLIGHTS

• In Q3, the Dow Jones Containers & Packaging Index increased by 13.9% and outperformed the S&P 500, which increased by 5.3% over the same period.
• The median EV/EBITDA multiple for reported private equity deals decreased to 5.8x in YTD Q3 from 8.0x in 2023, and decreased for strategic deals to 7.6x from 10.0x in the prior year.
• M&A deal volume in the Packaging sector decreased 16.7% in Q3 to 50 deals from 60 deals in Q2, and decreased 27.5% from 69 deals in Q3 of the prior year.
• As a % of total capital invested in M&A transactions, PE participation decreased substantially in YTD Q3 to 12.2% from 65.5% in 2023.
• Europe was the most active region in Q3 with 21 deals. Most notably in Europe was Verallia’s $247.3 million acquisition of Vidrala Italia, an Italian manufacturer of glass containers, in July 2024.