The year saw multibillion-dollar deals involving International Paper, DS Smith, Amcor, Berry Global, Sonoco, Ball and more.
Major acquisitions and divestitures — rumored, announced and finalized — were an influential part of the packaging landscape in 2024.
Catch up on Packaging Dive’s reporting and analysis about some of the most notable deals and trends. A full list of transactions is also available in our ongoing M&A tracker.
The possibility of a mega-merger comes five months after a similar deal between sector competitors Smurfit Kappa and WestRock. Read the full article ➔
Most of the $4.5 billion in proceeds will be split between debt reduction and returns to shareholders, with the remainder boosting Ball’s balance sheet. Read the full article ➔
The deal bests a preliminary purchase proposal from rival Mondi. It comes one week before a deadline to submit formal offers for acquiring the London-based paper packaging company. Read the full article ➔
Suzano’s previous interest added another layer of complexity to a planned deal between International Paper and DS Smith, which followed Mondi’s attempt to purchase DS Smith. Read the full article ➔
“Smurfit Westrock is going to conquer the world of sustainable, paper-based packaging,” said CEO Tony Smurfit before ringing the NYSE’s opening bell. Read the full article ➔
The sale of sites in Arkansas and North Carolina is the culmination of a strategic review by Pactiv as the company also restructures its beverage and food merchandising businesses and explores footprint optimization. Read the full article ➔
Washington-based Clearwater is narrowing its focus on paperboard, removing four U.S. tissue production facilities from its footprint after purchasing a bleached paperboard manufacturing plant in Georgia. Read the full article ➔
Weener Plastics is Silgan’s latest major purchase in recent years to grow its dispensing and specialty closures division. Read the full article ➔
The transaction is meant to enhance private equity-backed Veritiv’s specialty packaging distribution capabilities, while Orora and its thousands of employees will transition to a dedicated beverage packaging business. Read the full article ➔
The shareholders’ approvals push the deal closer to closing. The combined companies anticipate pro forma sales of over $28 billion. Read the full article ➔
Berry spun off its health and hygiene business to merge with Glatfelter, allowing it to focus on consumer packaging. The newly formed Magnera is now “the largest nonwovens company in the world.” Read the full article ➔
The companies anticipate having “greater reach than any other packaging company in the world” and are targeting a mid-2025 close. Read the full article ➔
This adds to a string of divestitures this year under CEO Kevin Kwilinski. It comes a week after Amcor announced plans to acquire Berry. Read the full article ➔
The Switzerland-based metal packaging business will transition to Sonoco’s branding in the coming months, bringing its 6,300 employees and 44 facilities. Read the full article ➔
The North American companies expect to finalize the all-cash deal in 2025, which would take Pactiv Evergreen private. Read the full article ➔
