Total food industry cross border deals worth $631.2m were announced globally for September 2022, with the PAG Asia Capital’s $472m private equity deal with Patties Foods and Vesco Foods being the sector’s biggest investment, according to GlobalData’s deals database.
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The value marked a decrease of 73.3% over the previous month of $2.36bn and a drop of 37.5% when compared with the last 12-month average of $1.01bn.
In terms of number of cross border deals, the sector saw a drop of 6.67% with 28 deals in September 2022 when compared to the last 12-month average of 30 deals.
In value terms, Asia-Pacific led the activity with cross border deals worth $512.01m in September 2022.
Food industry cross border deals in September 2022: Top deals
The top five cross border deals accounted for 94.5% of the overall value during September 2022.
The combined value of the top five cross border deals stood at $596.22m, against the overall value of $631.2m recorded for the month.
The top five food industry cross border deals of September 2022 tracked by GlobalData were:
1) PAG Asia Capital’s $472m private equity deal with Patties Foods and Vesco Foods
2) The $71.7m venture financing of Planted Foods by ACE Ventures, Be8 Ventures Management, ETH Zurich Foundation, Gullspang Re:Food, Joyance Partners, L Catterton, Movendo Technology, Tengelmann Ventures, Vorwerk Ventures and Yann Sommer
3) Ahimsa VC, NPRT and Woody Harrelson’s $20m venture financing deal with Wicked Kitchen
4) The $17.52m asset transaction of Xinou and Yashili Dairy (Manashan) Trading by China, Arla Foods and Arla Foods Ingredients
5) British International Investment, Rainmatter Foundation and Venture Dairy’s $15m venture financing deal with Akshayakalpa Farms and FoodsLtd