Food and Beverage M&A Deals Rose By More Than A Third In 2020
Despite the COVID crisis, the global food and beverage sector saw a 36.3% increase in the number of M&A deals in 2020, to a total value of $110 billion (€90.8 billion), according to data from PWC Italia.
This compares to a 9.6% drop in 2019, showing that mergers and acquisitions in the sector were not all that affected by the COVID-19 pandemic.
The growth was due to a number of deals signed by global industry giants including Coca-Cola ($5.7 billion), Nestlé ($1.5 billion) and Bellis/TDR Capital's takeover of Asda ($8.8 billion).
In Italy, there was a 207% increase in terms of value of deals, reflecting three major deals announced (and closed) in Q4 2020, namely Ferrero/Fox's biscuits ($300 million), Rhone Capital/Illycaffe' ($200 million) and Barilla's acquisition of a majority stake in the Canada’s Catelli Foods ($100 million).
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