April 17: The most recent updates to this tracker include:

• Private equity firm Arsenal Capital Partners sold Applied Adhesives to another PE firm, Bertram Capital. This follows a four-year run for Applied under Arsenal that included 17 acquisitions. John Feriancek will remain as CEO of the Minnesota-based distributor of hot melt, water-based and structural adhesives, along with adhesive dispensing equipment.
• Buscar, a diversified holding company, acquired a 50% stake in hemp-based bioplastics company Terramer in a stock-based deal. Both companies are based in California. Terramer intends to ramp up production of Terbo-1000, its series of bioplastic formulations whose applications include bags, straws, cutlery and food packaging.
• American Box acquired corrugated solutions company Covenant Packaging. Both companies are based in Kansas.
• International Paper is working to divest five corrugated facilities in Europe, a contingency of its acquisition of DS Smith. The buyer is Germany-based Palm Group. The deal is expected to close by the end of the second quarter.
• PE-backed FCA Packaging, acquired Oklahoma-based Viking Packing Specialist, which makes and distributes custom wood crates, cases, metal containers, corrugated and dangerous goods packaging. FCA said this will help it expand in Tulsa, as well as in Austin and Dallas, Texas.

Analysts project M&A activity could tick up in 2025 – after a string of megadeals, there’s still plenty of runway for consolidation. Packaging Dive aims to track as many deals as possible to help you stay up to date.

Although the packaging industry is global, this list focuses on deals involving companies that are either based, or have a notable presence, in the U.S. or Canada. We list the acquirers by their parent company or common operating name, which may differ from the specific legal entities involved in the acquisitions. The list can be sorted by category by clicking on each column title in the table below. You can also scroll down to see archived lists from 2023 and 2024.

Do you know of new deals we should include, or are you hearing about a tip you want us to investigate? Get in touch at [email protected].