M&A Watch

M&A Watch

Insightful analysis of and thought-provoking on packaged-food M&A.



Leerdammer deal shows M&A strategies can be as different as chalk and cheese 31 Mar 2021

One of western Europe's most prominent brands of cheese, Leerdammer, is set to change hands. Dean Best looks at the possible rationales buyer and seller may have for the deal.


Big Food's stake in the future – in-house venture-capital funds 29 Mar 2021

Our guide to some of the in-house venture-capital funds operated by the world's major packaged-food companies.


Has Mondelez boosted health of snacks portfolio with Grenade? 23 Mar 2021

Andy Coyne asks what Mondelez International's purchase of UK sports-nutrition business Grenade tells us about its strategic thinking and consumer trends.


Hormel goes nuts for new asset Planters 12 Feb 2021

Hormel Foods has bought Kraft Heinz's Planters snacks arm. Paying more than $3bn for the assets, it's the largest deal in upbeat Hormel's history. Market reaction was more muted.


Kerry's consumer exit may need more than one deal 29 Jan 2021

Speculation has continued about Kerry Group's future in consumer foods. With the Irish company's consumer assets spread across categories, an exit may take multiple transactions.


How could food industry M&A take shape in 2021? 4 Jan 2021

We speak to four experienced M&A advisers about how they expect deal-making in the packaged-food industry to take shape in 2021.


What's PAI Partners' game plan in buying two UK food groups at once? 12 Nov 2020

Andy Coyne takes a closer look at PAI Partners' acquisition of UK chilled food businesses Winterbotham Darby and Addo Food Group and asks sector experts to interpret the move.


Data may trump D2C debate as Nestle swoops for Freshly 2 Nov 2020

Nestle has paid a healthy multiple for a firm that, while growing rapidly, may remain a leader in a niche. But it's the consumer data on offer that could give the deal some spice.


Why might have Ferrero reached into tin for Fox's Biscuits? 9 Oct 2020

In buying a clutch of Fox's Biscuits assets, Ferrero has bought a tired brand in a mature category. Might the Italian giant's move be for another reason?


Aryzta's options in wake of investor battle 18 Sep 2020

Aryzta's two-largest investors came up trumps on Wednesday, with Urs Jordi, their pick as the embattled baker's chairman, elected. But what next for the business?


Nestle revitalises acquisition agenda as frozen food business appears safe for now – analysis 10 Sep 2020

Nestlé spoke at an investor event held by Barclays this week, with M&A, frozen foods and sustainability key topics. Simon Harvey looks at what the company had to say.


Why Orkla's latest deal might mark change in M&A strategy 8 Sep 2020

Orkla has entered an agreement to acquire spices maker Eastern Condiments in India. Simon Harvey looks at the rationale behind the deal, the Nordic group's latest in the country.


"I'm afraid 2020 and 2021 will be not normal" – Oppenheimer's Jeroen van den Heuvel on deal-making in packaged food 1 Jul 2020

Oppenheimer's Jeroen van den Heuvel has worked on food M&A for 20 years. He explains how Covid-19 has affected activity in Europe and argues the next 18 months will remain unusual.


"The genie is out of the bottle" – what would Unilever’s unification mean for food? 24 Jun 2020

The long-time debate over Unilever's future in food has resurfaced amid the FMCG giant's plan to unify its legal structure. What could happen to the Knorr maker's food assets?


Is outright sale of Aryzta the ultimate solution to debt woes? - analysis 15 May 2020

European bakery business Aryzta is once again reassessing its business model after a difficult few years. Simon Harvey reviews its options.


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