Packaging M&A Update

RESOURCE HIGHLIGHTS

• In Q3, the Dow Jones Containers & Packaging Index decreased by 9.9% and was outperformed by a 2.0% increase in the S&P 500 over the same period.
• The median EV/EBITDA multiple for reported private equity deals in the Packaging sector decreased to 10.7x in YTD Q3 2026 from 13.5x in 2025, but increased for strategic deals to 8.9x from 6.7x in the prior year.
• M&A deal volume in the sector decreased 19.7% in Q3 to 61 deals from 76 in Q2, and decreased 14.1% from 71 deals in Q3 of the prior year.
• Europe was the most active region in Q3 with 28 deals. A notable European deal in Q3 was Trimco Group’s $90.8 million acquisition of Nilörngruppen, a Sweden-based provider of branding, labeling and packaging solutions for the fashion and apparel industry.
• Total capital invested in M&A transactions decreased 97.5% in Q3 to $0.3B from $12.2B in Q2, largely due to the $10.2B Sealed Air take-private in Q2, and decreased 91.2% from $3.4B in Q3 of the prior year.