86 Acquisitions in March
March was another strong month for international food and drink mergers and acquisitions, with 86 transactions recorded on the Zenith Global database.
6 were worth more than $500 million, including 2 over $1,000 million:
- £7,600 million in online food delivery for the initial public offering of UK based Deliveroo
- $1,150 million funding in food delivery for US based GoPuff
- $940 million for Singapore’s GIC private equity to buy a 47% stake in Altium Packaging from Loews Corporation in the United States
- $850 million in bakery for US based Lindsay Goldberg private equity to purchase the North American business of Switzerland’s Aryzta
- $700 million in water drinks for Swiss Nestlé to win US based Essentia
- $690 million in wine for Bespoke Capital Acquisition Corp to take over Vintage Wine Estates in the United States.
Of the 86, 10 were in alcohol, 9 in packaging, 8 in soft drinks, 7 in plant-based, 6 in ingredients, 5 in dairy, 5 in vertical farming and 4 each in equipment and meat-free. This is the first time new segments plant-based, vertical farming and meat-free have been so prominent.
44 were within national borders including 21 in the United States, 10 in the United Kingdom, 4 in France, 3 in Australia and 3 in Canada.
42 were international, involving 26 countries.
Among the 86, 47 featured the United States, 17 the United Kingdom, 8 France, 7 Canada, 5 Australia, 4 Italy and 4 Switzerland.