As performance and growth avenues lag, packaging companies pursue M&A
It’s no secret that the packaging industry has faced business challenges and has been overall sluggish since the pandemic-era boom ended. Amid sustained challenges, executives have sought alternative avenues for growth and returning value to shareholders. That’s where M&A comes in, according to a newly released report by McKinsey & Co.
“There is renewed interest and excitement around what you can achieve through M&A as a lever,” Abhinav Goel, partner at McKinsey and co-author of the report, said in an interview. “M&A comes in as a lever to adjust your participation, double down on your markets, etc., so that you continue to maintain a good growth trajectory.”
A recent example of the programmatic approach is ProAmpac, which on March 6 completed its acquisition of TC Transcontinental’s packaging business for 2.1 billion Canadian dollars ($1.5 billion). That company, owned by Pritzker Private Capital, has been built through dozens of acquisitions, including the 2025 purchases of e-commerce packaging specialist PAC Worldwide and International Paper’s bag converting operations.
As performance and growth avenues lag, companies pursue M&A | Packaging Dive