Packaging sector update | Q3 2023 M&A report


25 October 2023

  • The destocking cycle shows signs of easing according to Eurozone PMI.
  • Despite slow demand, Greek packaging companies are investing to strengthen their offering of eco-friendly products, increase capacity and expand geographically.
  • Valuations across the sector have generally remained stable, with the exception of Metal & Glass, which decreased from 10.8x in the previous quarter to 10.5x; despite this, the M&G vertical maintains a strong position well above its 12-month average and the rest of the sector.
  • In spite of rising interest rates and sector-wide sluggish demand, M&A activity¬†saw a modest uptick in Q3 2023.