Hello! I am an attorney and would be happy to discuss potential deals in this space from a legal standpoint. Feel free to reach out at my links below: Calendar to setup virtual meeting: redacted Email address: redacted

In Europe manufacturers prevail and they supply directly to their clients. For smaller and/or more frequent deliveries outside 500 km radius from their factory they can use own or 3PL regional warehouse as distribution hub and supply through them. Distributors are far less common as in the US. In recent years PE-backed Berlin packaging is expanding in Europe through acquisitions. Other players worth mentioning are eg. Pont Packaging, Frapak etc. Generally speaking they target less price sensitive deals - smaller MOQ deals, multi-component packaging, higher added value industries (eg. pharma), new packaging solutions (eg. cosmetics, nutrition) etc. Keep in mind that in the long term the distributors are getting squeezed, therefore you can often see distributors partnering with no-name manufacturers in a way that almost reflects a nature of "vertical integration". Hope a general view from Europe helps ;)