As in previous years, Flexible Packaging continues to publish the ranking of the Top 25 Packaging Manufacturers Leading the North American Market for 2020. The rankings are calculated based on each company’s revenue in 2019.
2019 was another year marked by vigorous mergers and acquisitions within the industry.
Over the past 10 years, the flexible packaging industry has grown from $26.6 billion to $31.8 billion with a cumulative annual growth rate (CAGR) of 2%, according to the Flexible Packaging Association (FPA).
The flexible packaging sector continued its strong growth trajectory in 2019, mainly due to increasing technological advancements, as well as the convenience and customization efforts (to meet customer requirements), which have allowed flexible packaging to be applied to a wider range of consumer products than ever before.
As expected, the rankings of the top 25 packaging companies have changed from the previous year, particularly due to the bustling merger and acquisition activities in 2019.
The most talked-about acquisition was Amcor’s purchase of Bemis Co., the number one packaging company of 2018, which was completed in June 2019. Amcor CEO Ron Delia described the deal as “a significant milestone as two strong companies with over 150 years of history come together towards a great future.”
Bemis Chairman and CEO William F. Austen stated, “The combination of Bemis and Amcor is transformative, bringing together two highly complementary organizations to create a global leader in consumer packaging. We believe this combination is an exciting growth story for both companies and will benefit all stakeholders.”
According to Mesirow Financial, private equity-backed flexible packaging manufacturers led merger and acquisition transactions. C-P Flexible Packaging, PPC Flexible Packaging, and ProAmpac, all private equity-backed companies, are actively pursuing a buy-and-build strategy. Compared to other types of packaging, flexible packaging has the most growth potential due to the value it offers in reducing food waste, extending shelf life, and lowering transportation costs.
Novolex Holdings, Inc., founded by Leon Farahnik in 2003 and headquartered in Hartsville, S.C., has held the number one position for two consecutive years. 2019 saw the acquisition of Zenith Specialty Bags, now part of Novolex’s Bagcraft.
Berry Global moved from fifth to third in the rankings, largely thanks to the acquisition of one of Europe’s largest plastic packaging suppliers, RPC Group, in July 2019. Berry Chairman and CEO Tom Salmon stated, “2019 was a transformative year for Berry, marked by the successful acquisition of RPC, along with a strong focus and commitment to driving sustainable solutions for our customers.”
Inland Packaging, a label manufacturer based in La Crosse, WI, made its debut on this year’s list. Inland is a family-owned company with a 75-year history and has been a member of the Flexible Packaging Association since April 2016. 
Inland’s flexographic and digital printers are fast enough to meet any production volume.
Detailed list of the Top 25 Packaging Manufacturers in the North American Market
Source: Flexible Packaging