Asia-Pacific’s food industry saw a drop of 32.26% in deal activity during October 2022, when compared with the last 12-month average, led by Minerva Foods Asia’s $251.25m acquisition of Australian Lamb Co, according to GlobalData’s deals database.
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A total of 21 food industry deals worth $409.1m were announced for the region in October 2022, against the 12-month average of 31 deals.
Of all the deal types, M&A saw most activity in October 2022 with 14 transactions, representing a 66.7% share for the region.
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By GlobalDataIn second place was venture financing with six deals, followed by private equity deals with one transactions, respectively capturing a 28.6% and 4.8% share of the overall deal activity for the month.
In terms of value of deals, M&A was the leading category in Asia-Pacific’s food industry with $334.03m, while venture financing and private equity deals totalled $61.4m and $13.68m, respectively.
Asia-Pacific food industry deals in October 2022: Top deals
The top five food deals accounted for 95.2% of the overall value during October 2022.
The combined value of the top five food deals stood at $389.62m, against the overall value of $409.1m recorded for the month.
The top five food industry deals of October 2022 tracked by GlobalData were:
1) Minerva Foods Asia’s $251.25m acquisition deal with Australian Lamb Co
2) The $71.09m acquisition of 51% stake in Badshah Masala by Dabur India
3) CSIRO Financial Services, Horizons Ventures and Hostplus Investments’s $28.6m venture financing deal with Nourish Ingredients
4) The $25m venture financing of GOPIZZA by Big Basin Capital, Capstone Partners, CJ Investment & Securities, DS Asset Management, GS Ventures, Mirae Asset Securities, Ncore Ventures, Pureun Partners Asset Management and Woori Bank
5) Cool Japan Fund’s $13.68m private equity deal with DAIZ
