Total food deals in January 2019 worth $1.08bn were announced, according to GlobalData’s deals database.

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The value marked a decrease of 60.23% over the previous month and a drop of 72.61% when compared with the last 12-month average of $3.93bn.

In terms of number of deals, the sector saw a drop of 3.38% over the last 12-month average with 57 deals against the average of 59 deals.

In value terms, Asia-Pacific led the activity with deals worth $383.11m.

The top announced deal, as tracked by GlobalData, in January 2019 was Tirumala Milk Products’ $238.34m acquisition of Sunfresh Agro industries.

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.