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Paper Industry Transformation Moves Forward – October 2024 M&A Activity
It didn’t take long. The ink was hardly dry. International Paper’s shareholders had just approved its acquisition of DS Smith, the UK-based manufacturer of corrugated case materials and related...
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On-Demand Print & Merch is BIG Business for Private Equity – November 2024...
The future of print will increasingly be individually customized with the images we want, delivered wherever we want, printed on demand when we want, and applied to whatever products we choose – The...
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Zig-Zagging – December 2024 M&A Activity
From Printing to Print Management to Business Process Outsourcing Printing companies increasingly seek to diversify their service offerings via acquisitions of companies that support their customers’...
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Print Everything Everywhere All at One Place – January 2025 M&A Activity
We are inundated with printed images. While the steady decline of newspapers and other forms of print gives a general societal impression that print is a dying industry, the truth is that we are...
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Think Outside the Rectilinear – February 2025 M&A Activity
As we have noted in prior Target Reports and emphasized in our Annual Review, the salad days for wide-format printing are over. Digitally printed banners and wraps are no longer unique, flatbed...
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Experiential Graphics Under the Lights – March 2025 M&A Activity
There was a time when signage and event graphics were primarily viewed as an extension of commercial print. The business was transactional, deadline-driven, and rooted in production. That time has...
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The Prize Patrol Goes Digital – April 2025 M&A Activity
Direct mail has proven to be a resilient channel for the delivery of both marketing and transactional content. The maturation of digital inkjet printing technologies has measurably increased the...
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Is M&A Activity in Commercial Print Poised for a Comeback? – May 2025 M&A...
The pace of merger and acquisition activity in the commercial printing segment picked up in May 2025, prompting a timely question: Is the commercial print deal market poised for an accelerated pace as...
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Challenges and Opportunities: Hardware versus Software – June 2025 M&A Activity
Recent deal activity and distress filings draw a clear line of demarcation through institutional investors’ view of the current printing and packaging landscape. The market continues to reward...
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Surprising Dynamism in Market for Local Newspapers – July 2025 M&A Activity
The restructuring of the local news industry continues at a steady pace, driven by the dual forces of financial pressure on small publishers and the strategic ambitions of regional consolidators....
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The Target Report Annual Review – TTM August 2025 M&A Activity
Uncertainty Rules the DayOver the past fourteen years, we have chronicled, logged, and commented on the merger and acquisition activity in several print-centric business segments, with a special focus...
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PE Places Bets on Two New Packaging Platforms – September 2025 M&A Activity
September 2025 was marked by the establishment of two new private equity-backed platforms in the packaging segments, underscoring the continued appeal of packaging as a growth and consolidation play...
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Corrugated Sheet and Box Production – October 2025 M&A Activity
In 1856, tall top hats were the height of fashion for men. Two English gentlemen in the hatter trade, Edward G. Healy and Edward E. Allen, resolved to find a material that would maintain the tall...
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New Consolidator Emerges – November 2025 M&A Activity
The print and packaging industries have long been shaped by cycles of technical reinvention, growth, maturation, and consolidation. Over time, consolidators emerge within the various print and...
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Industry Transformation – December 2025 M&A Activity
Transformation versus Convergence For much of the past decade, transformation has been framed as a destination: printers becoming packagers, converters becoming platforms, legacy printing businesses...
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The Bloom Is Off the Rose – January 2026 M&A Activity
Label Converters Enter a More Sober PhaseFor much of the past decade and a half, discussions about mergers and acquisitions in the printing and packaging industries have been dominated by the steady...
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Private Equity Bets Big on Digital Billboards – February 2026 M&A Activity
From Poster Panels to Electronic DisplaysFor more than a century, the billboard business depended on printing. From hand-painted advertising murals to multi-sheet poster panels to vinyl prints, outdoor...
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What in the World is Schutzschirmverfahren? – March 2026 M&A Activity
Schutzschirmverfahren (shu̇ts-ˌshir-m fər-ˈfä-rən): a German word literally translated as “Protective Shield Proceedings,” but in practical terms, it is the German equivalent of a self-administered,...
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Madonna, Bob Dylan & the Sistine Chapel – April 2026 M&A Activity
“Print is evolving from being just another media channel to becoming the stage where a brand proves its artistry and permanence.” - Cherry Collins, strategy partner at Havas Media UK “Print issues no...
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Batman is Trapped Inside a Warehouse – May 2026 M&A Activity
Somewhere in a Mississippi warehouse, Batman is waiting for a bankruptcy judge. He is not alone. Millions of comic books, graphic novels, games, figurines, and collectibles tied to the collapse of...
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Corrugated Demand Gets Cut Down to Size – June 2026 M&A Activity
Transformative technology moves corrugated box production downstream, consolidation continues apace, and legacy converting plants are shuttered.Packsize, Box Innovator, Acquires Panotec Right-sized...
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Newspaper Buyers Move Above the Fold – July 2026 M&A Activity
For 15 years, The Target Report has examined M&A activity across the printing, packaging and related graphic communications industries. Last July, I invited our first-ever guest author of The...
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