Q1 2026

Plastics Sector M&A Update

In Q1, the Producer Price Index (PPI) for Plastics Material and Resin Manufacturing increased 0.73%, reflecting increased feedstock costs due to geopolitical tensions increasing costs of transportation fuels and petrochemical resources.
The median EV/EBITDA multiple for reported strategic deals in the Plastics sector decreased to 3.7x in Q1 from 5.1x in 2025, while no private equity multiples were reported during this period.
M&A Q1 deal volume in the sector decreased 9.9% to 118 deals from 131 in Q4 2025, and decreased 0.8% from 119 deals in Q1 of the prior year.
Europe was the most active region in Q1 with 51 deals. Most notably in Europe was Zeus Packaging’s $28.3 million acquisition of Koex Packaging Solutions, a Madrid-based manufacturer of plastic and paper bags.
Total capital invested in M&A transactions increased 181.5% in Q1 to $15.2B from $5.4B in Q4, due primarily to large acquisitions such as Borealis’ $13.4 billion acquisition of NOVA Chemicals, a manufacturer of chemicals, plastic products, and flexible food packaging, in March 2026.