Mega-mergers that are driving the global packaging industry
Switzerland’s Amcor and Indiana’s Berry Global are combining into a global packaging juggernaut. The two packaging behemoths will combine in an all-stock transaction, thereby creating a global leader in consumer and healthcare packaging solutions.
24 Apr 2025 | By Rahul Kumar
In November of 2024, Amcor and Berry Global Group announced they would be combining. The two groups said the definitive merger agreement had gained unanimous approval from the boards of directors at both companies.Combined revenues will be around USD24bn, with expected cost benefits and financial savings of USD650m by the end of year three.
The deal when it is rolled out is staggering. The combined revenues will be around USD24bn, with expected cost benefits and financial savings of USD650m by the end of year three.
The readers of WhatPackaging? magazine will recall two mega deals.
In 2024, Smurfit Kappa-Westrock combination was completed and the company’s net sales was USD33 billion for the full year. Curiously enough, shares in Smurfit Westrock, which is led by chief executive Tony Smurfit, have fallen more than 22 per cent since the start of the year.
Meanwhile in early 2025, the International Paper (IP) and DS Smith merger, a combined sales of USD28 billion. Meanwhile in a recent development German paper and packaging group Palm has made an offer to acquire five corrugated box plants from IP. IP agreed to the divestment of the five plants as a condition of the European Commission’s clearance of IP’s acquisition of DS Smith in January. The plants in question are corrugated box plant Saint-Amand, corrugated box plant Mortagne, and sheet plant Cabourg, all in the Normandy area in the north-west of France. Also; corrugated box plant Bilbao, in the north-west of Spain, and corrugated box plant Ovar, in the north of Portugal.
The firms which are entering into mega deals are citing a number of “compelling strategic benefits”, including a global product offering in mono cartons, corrugation boxes, flexibles, containers and closures; and bringing together two complementary businesses.
The packaging market is a huge business. According to Smithers, a leading market research firm, it is a trillion-dollar business: "Over the five years to 2028, the global packaging market is forecast to grow from USD1.17 trillion to USD1.42 trillion," Smithers reports. The mega-mergers unlock efficiencies, with leadership poised to drive improved returns in the dominant global packaging industry.