Food and Beverage M&A Update

2Q 2020

RESOURCE HIGHLIGHTS

  • The Food & Beverage industry index rebounded 20.7% but underperformed the S&P 500 index, which increased 25.5% in Q2 2020
  • The first half of 2020 saw the fewest number of deals closed in the first six months since 2004
  • Total capital invested increased significantly, up 237% from Q1 2020 as there were more large $1B EV tranche transactions in Q2 2020
  • Private equity investors were more risk-averse than strategic investors over the past three months, which lead to strategic buyers surpassing private equity investors in terms of total capital invested for all disclosed deals
  • The acquisition of Rockstar Energy Drink by PepsiCo in an approximately $3.85B deal represented the largest deal in Q2
  • Stock prices and valuation multiples were flat through Q2
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