Led by China Mengniu Dairy’s $241.25m acquisition of 20% stake Inner Mongolia Mengniu Dairy (Group), China’s food industry saw a drop of 29.93% in overall deal activity during Q2 2022, when compared with the last four-quarter average, according to GlobalData’s deals database.
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A total of 24 deals worth $275.1m were announced in Q2 2022, compared with the last four-quarter average of 34.25 deals.
venture financing was the leading category in the quarter with 21 deals which accounted for 87.5% of all deals.
In second place was M&A with three deals accounting for 12.5% of overall deal activity in the China’s food industry during the quarter.
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In terms of value of deals, M&A was the leading deal category in China’s food industry with total deals worth $243.89m, followed by venture financing and deals totalled $31.23m.
China food industry deals in Q2 2022: Top deals
The top five food industry deals accounted for 98% of the overall value during Q2 2022.
The combined value of the top five food deals stood at $269.52m, against the overall value of $275.1m recorded for the quarter.
The top five food industry deals of Q2 2022 tracked by GlobalData were:
1) China Mengniu Dairy $241.25m acquisition deal for 20% stake in Inner Mongolia Mengniu Dairy (Group)
2) The $11.53m venture financing of Nanjing no boundaries Restaurant Management by JIAYU Capital
3) Joyvio and SK Group $10.6m venture financing deal with Shanghai Shiwei Biotechnology
4) The $3.5m venture financing of Hao foods by Big Idea Ventures,Henry Soesanto and Rich Products Ventures
5) Gaomi Gengsheng FoodLimited $2.64m acquisition deal for 70% stake in Shandong Kaijia International Trading