Who's Buying in the Packaging Industry
Transaction volumes among Buyer Types began to shift in favor of Private Buyers in 2025, and this held true in 2026.
Interestingly, new Sponsor Platforms were also more resilient and accounted for a larger share than in any period since 2021. Packaging has notched 54 new Sponsor-led Platforms so far in 2026 (plus another 9 secondary sponsor-to-sponsor buyouts), continuing the upticks from 2024 and 2025. This makes us optimistic about forward volumes, as add-ons to platforms are a large driver of M&A activity. This also provides comfort that the financial sponsor community still regards Packaging as an attractive market for investment.
As in prior years, New Sponsor Platforms tend to provide the highest pricing in the market and Privately held acquirers provide the least. With the threat of higher interest rates, however, we anticipate this gap to narrow, as Sponsors will need to adjust pricing (or their returns) to deal with a higher interest rate environment.
Want more insights into the Packaging Industry?
Looking to explore strategic options in the Packaging sector?
Connect with Stuart Sanford, Director at Mezzo. Whether you're considering a sale, acquisition, or capital raise, Stuart brings deep industry knowledge and transaction expertise to help you evaluate your next move with confidence.