Key takeaways
- Packaging M&A is defined by large-scale, sponsor-led transactions and a focus on long-term value creation.
- Multi-jurisdictional, multi-currency structures and real-time adaptability are essential for successful dealmaking in the industry.
- The sector’s future will be shaped by flexible, globally coordinated capital strategies and continued sponsor engagement.
Sponsor activity accelerates in packaging and adjacent sectors
Financial sponsors are intensifying their focus on packaging and packaging-adjacent platforms, drawn by the sector’s resilience and the essential role packaging plays across food, healthcare, e-commerce and consumer goods. The sector’s stability and potential for growth have made it a priority for private equity and other sponsor-backed investors, who are increasingly active in both platform and bolt-on transactions.
Recent M&A data from PitchBook underscores this momentum. While overall deal volume in packaging moderated in late 2025, annual activity increased for the third consecutive year, supported by strong demand for consumer and specialty packaging, premiumization and reshoring-driven acquisitions. Sponsors are not only targeting established platforms but are also investing in innovation, sustainability and geographic expansion to position their portfolio companies for long-term success.
Multi-currency, cross-border and creative structures are increasingly common
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Emphasis on scale: Sponsors are targeting larger, platform-scale assets to unlock operational synergies, drive integration and maximize value creation across their portfolios.
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Cross-border and multi-currency execution: The global nature of packaging businesses and their sponsors is fueling demand for financing solutions that can be executed seamlessly across currencies and regions, requiring sophisticated risk management and coordination.
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Innovative structuring: Transactions increasingly feature tailored capital structures, including multi-tranche and multi-currency facilities, to address complex M&A, refinancing and growth objectives while appealing to a diverse investor base.
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Real-time market adaptability: Success now hinges on the ability to adjust deal terms, pricing and syndication strategies in response to evolving investor sentiment and market volatility, ensuring transactions remain executable under a range of conditions.
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Regulatory and jurisdictional navigation: Understanding and managing regulatory requirements and local market practices has become a core component of transaction execution in an increasingly cross-border environment.
Recent transactions illustrate packaging sector M&A trends
Sealed Air (SEE):
J.P. Morgan led the ~$8.6 billion multi-currency, multi-tranche debt financing supporting CD&R’s take-private of Sealed Air. The transaction included a $1.4 billion revolving credit facility, $3.54 billion USD and €650 million EUR term loans, and a mix of USD and EUR senior secured and unsecured notes. This landmark financing represents the largest paper and packaging sector transaction on record.
ProAmpac:
As lead-left arranger, J.P. Morgan structured and syndicated $3.8 billion USD and €425 million EUR first-lien term loans to fund ProAmpac’s acquisition of TC Transcontinental Packaging. The cross-border, multi-currency transaction was tailored to enable ProAmpac to execute a transformative acquisition and position the business for continued growth.
BradyPLUS:
JPMorganChase served as lead-left arranger on a $2.8 billion debut Term Loan B supporting the potential merger of BradyPLUS with Imperial Dade. The financing was structured to provide maximum flexibility for the sponsor, accommodating both the merger and future growth initiatives.
Looking forward
Looking forward, the packaging sector is expected to remain a focal point for financial sponsors, with continued emphasis on scale, cross-border growth and innovative capital solutions. As sponsors pursue increasingly complex transactions, flexible, creative and globally coordinated financing will remain central to successful execution.
From M&A advisory and capital market transactions to exits, recapitalization and leveraged buyouts, J.P. Morgan provides tailored banking solutions for sponsors.
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