Packaging Industry Report 2023 Year Review
M&A Commentary: Despite the challenging economic environment, the packaging sector has demonstrated remarkable resilience. US activity was higher than expected in 2023, with annual activity pushing up to the 5-year average.
The resilience is highlighted by a transformation in value creation. The trend shifted from focusing on multiple expansion to revenue growth and margin expansion. Investors are now more concerned with improving fundamental activity than flipping businesses to pick up multiples.
Going forward, the M&A environment will continue to be appealing and dynamic, fueled primarily by active markets and established strategies. Additionally, we can anticipate an increase in multiple expansion as economic conditions improve.
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