The global packaging sector in Q2 2023 witnessed deals worth $253 million, a drop of 73% compared to Q1 2023 and 90% compared to Q2 2022. Credit: metamorworks via Shutterstock
Private equity deals in paper & packaging increased in Q3 2023
In the global paper & packaging industry, there were 9 private equity deals announced in Q3 2023, worth a total value of $16.9m, according to GlobalData’s Deals Database.
The $16m institutional buy-out (ibo) Suzhou Hycan Holdings by Shanghai Daixi Investment Management was the industry’s largest disclosed deal.
IPACKCHEM buys majority stake in blow-moulded product supplier TPG
French specialised barrier packaging provider IPACKCHEM has bought a majority stake in TPG Plastics, a company that supplies engineered plastic, blow-moulded products. The financial terms of the transaction have not been disclosed. TPG develops portable fuel containers and engineered blow-moulded products at an advanced manufacturing facility in Murray, Kentucky. The company uses patented flame mitigation and dispensing technology to ensure product safety.
M&A market performance suffered in Q3 2023
The third quarter of 2023 saw a slight fall in deal activity after the recovery in the global M&A market in the second quarter. Total deals in Q3 totalled $473bn, a drop of 17% compared to the previous quarter. In terms of deal volume, there was a 16% fall from 8,394 deals in Q2 2023 to 7,083 M&A deals in Q3 2023.
Sumitomo to acquire 90% of Asahi Kasei Pax’s film business
Japanese chemical manufacturing company Sumitomo Bakelite has signed an agreement to acquire 90% of the shares in a new company established by splitting Asahi Kasei Pax’s film business. The announcement builds on Asahi’s recent decision to liquidate its wholly owned subsidiary Asahi Kasei Pax. Asahi completed a final agreement on 29 September 2023 to divide its film and container segments.