Record 101 acquisitions in June
June saw 101 food and drink transactions registered on the Zenith Global mergers and acquisitions database, just ahead of the previous 100 record in January 2021.
5 involved sums of more than $500 million, including 3 above $1,000 million:
- $3,400 million value in dairy for Youran in China after raising $644 million from its Hong Kong IPO
- $2,200 million in infant nutrition for US-based Primavera private equity to buy the Mead Johnson business in China from UK-based Reckitt Benckiser
- $1,020 million in ingredients for Ireland’s Kerry to purchase America’s Hare Topco
- $976 million for US-based Pilgrim’s Pride to take on Kerry’s meat and meals business in the United Kingdom and Ireland
- $550 million in food delivery for Turkey’s Getir series D funding from US-based Silver Lake private equity and others.
Of the 101 total, 15 were in alcohol, 8 in dairy, 7 in meat-free, 7 in nutrition, 7 in soft drinks, 6 in CBD, 6 in ingredients, 6 in packaging, 6 in plant-based and 5 in infant nutrition/baby food.
Emerging segments such as meat-free, CBD and plant-based all scored very strongly.
Private equity featured in 42 purchases and just 3 divestments. 36 of the transactions were funding rounds.
63 were within national borders and 38 international. The United States accounted for 41 national and 18 international, followed by the United Kingdom on 7 national and 7 international.
Of the 28 countries affected, France contributed to 8 transactions, Italy 5, Germany 4, then Australia, Belgium, Canada, Ireland, Netherlands and Switzerland on 3 each.