Packaging M&A Signals Industry Growth and Strategic Consolidation Through 2025

The acquisition of Berry Global by Amcor marks a landmark moment in the packaging industry, solidifying the combined entity as a global leader. The deal, valued at approximately $15.7 billion—including $7.2 billion in net debt—values Berry’s stock at $73.59 per share, representing a roughly 10% premium over the prior trading price of $67.05. The merger values Berry at 1.5x sales and 9x EBITDA, aligning closely with industry benchmarks. The combined proforma enterprise value of the new entity stands at $36 billion. The combined company will have $24 billion in sales and $4.3 billion in post-synergy EBITDA, leveraging scale, cost efficiencies, and operational excellence to maintain its competitive edge. For context, the five-year average EV/EBITDA multiple for Amcor is 11x, compared to Berry’s 7.7x.