58 acquisitions in June
June saw a return to a more normal level of food and drink transactions, with 58 registered on the Zenith Global mergers and acquisitions database.
4 topped $500 million, including 3 over $1 billion and 1 above $5 billion:
- $7,300 million in food delivery for the newly formed Just Eat Takeaway.com based in Netherlands to swallow US-based Grubhub
- $1,560 million combined value in snacks from Utz Quality Foods merger with Collier Creek in the United States
- €980 million in nutrition for Dutch-based DSM to buy Austria’s Erber
- $530 million in probiotics for Denmark’s Chr Hansen to gain UAS Labs in the United States.
Of the 58 total, 8 were in alcohol, 7 in ingredients, 7 in soft drinks, 6 in services, 4 in nutrition, 3 in confectionery, 3 in dairy and 3 in packaging.
The United States dominated the activity, participating in 37 of the 58, including 26 inside the country alongside 5 international purchases and 6 overseas sales.
Of the 15 other countries involved, France featured in 6, the Netherlands in 5 and the United Kingdom in 5, with Denmark, Italy and Switzerland on 3 each.