Big Deals, Greener Goals: The Packaging Shake-Up

Amcor, Toppan, and Novolex spark a sustainability race through billion-dollar mergers

15 Oct 2025

A wave of billion-dollar mergers is reshaping the packaging world, fusing growth with green ambition. In early 2025, Amcor, Toppan, and Novolex each made bold moves that could redefine how the industry competes on sustainability.

In April, Toppan unveiled a $1.8 billion acquisition of Sonoco’s thermoformed and flexible packaging unit, strengthening its reach across the Americas. Soon after, Novolex sealed a $6.7 billion purchase of Pactiv Evergreen, expanding its footprint in food-service packaging. Meanwhile, Amcor’s planned $8.4 billion takeover of Berry Global, set to close midyear, could create a global giant in flexible films, containers, and closures. Some insiders suggest the true value may rise further once synergies are counted.

These are not just financial maneuvers; they are survival strategies. Tougher environmental laws and rising consumer demand for recyclable, traceable packaging are forcing companies to act. With extended producer responsibility policies spreading across U.S. states, only those with the scale to fund major R&D efforts can keep pace.

“Consolidation is the infrastructure for next-gen sustainable packaging,” one analyst said. By linking raw material producers, converters, and end users, these mega-firms hope to move faster on innovations like bio-based films and advanced recycling.

But big deals bring big headaches. Regulators have already scrutinized the Amcor Berry merger, and integration challenges lie ahead. Blending corporate cultures, syncing factories, and aligning data systems will test even these giants. Skeptics warn that too much consolidation could squeeze out smaller innovators.

Still, the trend is clear. Mergers and acquisitions are accelerating, powered by the race toward circular design and greener manufacturing. The winners will be those who turn scale into creativity and make sustainability more than a slogan. For smaller players, the crossroads is here: collaborate or specialize. Either way, the packaging revolution of 2025 has begun.