North America’s food industry sees a rise of 47.8% in deal activity in February 2019

North America’s food industry saw a rise of 47.8% in deal activity during February 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

A total of 34 food industry deals worth $667.27m were announced for the region in February 2019, against the 12-month average of 23 deals.

Of all the deal types, venture financing saw most activity in February 2019 with 16 transactions, representing a 47.1% share for the region.

In second place was M&A with 12 deals, followed by private equity deals with six transactions, respectively capturing a 35.3% and 17.7% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in North America’s food industry with $482.63m, while private equity and venture financing deals totalled $100m and $84.64m, respectively.

North America food industry deals in February 2019: Top deals

The top five food deals accounted for 92.5% of the overall value during February 2019.

The combined value of the top five food deals stood at $617.38m, against the overall value of $667.27m recorded for the month. The top announced food deal tracked by GlobalData in February 2019 was MilcoProprietary’s $432.24m acquisition of Clover Industries.

In second place was the $90m private equity deal with Siete Family Foods by Stripes Group and in third place was Pipeline Foods’ $50.4m asset transaction with SunOpta.

The $34.75m venture financing of Perfect Day by ADM Capital, Horizons Ventures and Temasek Holdings (Private) and Nuveen’s private equity deal with Revolution Foods for $10m held fourth and fifth positions, respectively.

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

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.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.