Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis were the top law firms advising on M&A in the consumer sector in 2023, analysis of deal data suggests.

According to GlobalData, Just Food’s parent, Skadden led the way when measuring the value of deals, while Kirkland & Ellis advised on the most transactions.

Aurojyoti Bose, lead analyst at GlobalData, said: “Skadden, Arps, Slate, Meagher & Flom registered an improvement in the value of total deals advised and its ranking by value in 2023 compared to the previous year. It was the only adviser to surpass $10bn in total deal value in 2023. Meanwhile, Kirkland & Ellis was the top adviser by volume in 2022 and continued to lead by this metric in 2023 as well.

Table showing leading consumer sector M&A banking advisers in 2023
Credit: GlobalData

Looking at the value of deals, Wachtell, Lipton, Rosen & Katz occupied second position in the ranking, advising on $9.8bn worth of deals, followed by Davis Polk & Wardwell with $8.8bn, White & Case with $8.4bn and Weil, Gotshal & Manges with $6bn.

Meanwhile, CMS took second spot on the volume list with 17 deals, followed by Allen & Overy, Baker McKenzie, and Gibson, Dunn & Crutcher.

GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.

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To ensure further robustness to the data, the company also seeks submissions of deals from leading advisers.

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