KBS - Packaging - Market Insight

CURRENT LANDSCAPE A notable rise in UK packaging M&A activity is highlighted by a 25% year-on-year increase in deal volumes in 2023. Globally, M&A deals have skyrocketed in the 2020s, and numerous mega-deals in late 2024 suggest a new wave of consolidation, e.g. the mergers of Smurfit Kappa and WestRock, and of Amcor and Berry Global.

2023 DEAL VOLUME

40 35 30 25 20

38

38

32

31

30

27

24

15 10 5 0

Number of deals

2017

2018

2019

2020

2021

2022

2023

SOURCE: Mergermarket, Orbis M&A and Trade Press

International companies have acquired UK firms, strengthening their global and UK presence. Waterland, a Dutch investment firm, is a major player following the acquisition of three UK businesses through its European portfolio companies: Carton Group bought Wrapology, while Asteria Group acquired both Compliance Labelling Solutions and Berkshire Labels. The packaging sector has been consolidating recently, with major players participating in mega-deals. Opportunities are expected to arise in niche areas rather than broader categories. For example, moulded fibre has experienced high growth over the past decade and more expansion is expected through 2030, with room for consolidation.