Total packaging industry cross border M&A deals worth $1.6bn were announced in Europe in Q3 2022, led by Stora Enso’s $1.01bn acquisition of De Jong Packaging, according to GlobalData’s deals database.

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The value marked an increase of 302.2% over the previous quarter and a rise of 315.1% when compared with the last four-quarter average of $380.66m.

Europe held a 37.80% share of the global packaging industry cross border M&A deal value that totalled $4.18bn in Q3 2022. With a 26.08% share and deals worth $1.09bn, The Netherlands was the top country in Europe’s cross border M&A deal value across packaging industry.

In terms of deal activity, Europe recorded 23 cross border deals during Q3 2022, marking an increase of 9.52% over the previous quarter and a rise of 37.31% over the last four-quarter average. Italy recorded five deals during the quarter.

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Europe packaging industry cross border M&A deals in Q3 2022: Top deals

The top five packaging industry cross border M&A deals accounted for 97.4% of the overall value during Q3 2022.

The combined value of the top five cross border M&A deals stood at $1.54bn, against the overall value of $1.6bn recorded for the quarter.

The top five packaging industry cross border deals of Q3 2022 tracked by GlobalData were:

1) Stora Enso’s $1.01bn acquisition deal with De Jong Packaging

2) The $212.53m asset transaction of Stora Enso by Schwarz Produktion Stiftung & Co.

3) Sylvamo’s $149.81m asset transaction deal with Stora Enso

4) The $87.3m acquisition of Skjern Paper by Sonoco Products

5) SCG Packaging’s $78.87m acquisition deal with Peute Recycling