Record 106 acquisitions in July

The records keep on coming. July’s 106 food and drink transactions on the Zenith Global mergers and acquisitions database topped June’s 101 and January’s 100 – both all time records.

As many as 9 exceeded our usual cut off of $500 million, 7 of them reaching $1,000 million or more:

• $6,500 million value achieved for India’s Zomato online food delivery service IPO
• $4,800 million in foodservice equipment for Italy’s Ali to buy Welbilt in the United States
• $3,000 million sales in packaging for the US private equity transfer of Fort Dearborn from Advent International to Clayton, Dubilier & Rice
• $1,450 million in US packaging for Avery Dennison to purchase Vestcom
• $1,300 million in sweeteners for US-based KPS private equity to gain a majority stake in UK-based Tate & Lyle’s sweeteners and starches business in the United States
• $1,200 million in US wine for Sycamore private equity to win Ste Michelle Wine Estates from Altria
• $1,000 million in US food delivery to fund GoPuff’s expansion led by Blackstone private equity.

Among the 106, 13 were in ingredients, 12 in soft drinks, 11 in packaging, 7 in plant-based, 6 in alcohol and 5 each in cell-based, meat-free and snacks. The free from movement is growing apace and new technologies are emerging rapidly.

58 took place within individual countries, 40 of these in the United States, 5 in the United Kingdom and 3 in Canada. 48 were international, involving 32 different countries.

In total, the United States featured in 59 deals, the United Kingdom in 16, France in 8, Canada in 5, Australia in 4 and Germany in 4.