Packaging, Plastic & Paper M&A-Report

Packaging M&A stabilizes in 2025 as valuations normalize and regulatory reform drives consolidation

The latest Oaklins Packaging, Plastic & Paper M&A report highlights a Swiss and global packaging market that has entered a more disciplined and normalized phase following the post-pandemic peak.

While overall market growth in Switzerland remains moderate, structural drivers including circular-economy regulation, sustainability initiatives and the shift toward paper-based solutions continue to support strategic transaction activity. Regulatory reform and extended producer responsibility requirements are accelerating consolidation, particularly in the lower to mid-market segment.

Key insights at a glance

Packaging M&A activity remained stable in 2025 with 151 global transactions, following normalization from the 2021 peak.

Strategic buyers continue to lead consolidation, particularly in EMEA and the lower to mid-market, with most deals below CHF 100 million.

Valuations have recalibrated, with median EV/EBITDA multiples stabilizing at around 8.6x – broadly in line with the long-term average of 8.1x – signaling a disciplined and balanced M&A environment.

Explore the full report for insights into valuations, trends and M&A activity