Total food industry deals worth $2.8bn were announced globally for October 2022, with the $1.2bn acquisition of Gelnex Industria e Comercio being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 200.7% over the previous month of $914.44m and a rise of 24.4% when compared with the last 12-month average of $2.21bn.

In terms of number of deals, the sector saw a drop of 37.63% with 58 deals in October 2022 when compared to the last 12-month average of 93 deals.

In value terms, South and Central America led the activity with deals worth $1.2bn in October 2022.

Food industry deals in October 2022: Top deals

The top five deals accounted for 88.6% of the overall value during October 2022.

The combined value of the top five deals stood at $2.44bn, against the overall value of $2.8bn recorded for the month.

The top five food industry deals of October 2022 tracked by GlobalData were:

1) Darling Ingredients’s $1.2bn acquisition deal with Gelnex Industria e Comercio

2) The $686.16m acquisition of 50% stake in Lamb Weston Meijer VOF by Lamb Weston Holdings

3) Minerva Foods Asia’s $251.25m acquisition deal with Australian Lamb Co

4) The $200m acquisition of 84% stake in Denali Ingredients by Orkla Food Ingredients

5) ISPAC 1’s $101.11m acquisition deal with Baladi