46 acquisitions in August
Despite widespread talk of slowdowns in August, that did not apply to mergers and acquisitions. I recorded no less than 46 deals in the month. 11 were in alcohol, 11 in soft drinks, 7 in food, 5 in packaging, 4 in coffee and 4 in dairy. 26 countries were affected. 17 involved the United States, 10 the United Kingdom, 4 Australia, Canada, China and Japan, 3 Germany, India, Israel and New Zealand. The two over $1 billion were takeovers by Japanese brewers : the still disputed $2.6 billion Kirin majority purchase of Brazil’s Schincariol; and Asahi’s $1.3 billion agreement with Independent Liquor of New Zealand.