North America’s food industry saw a drop of 3.33% in deal activity during October 2021

North America’s food industry saw a drop of 3.33% in deal activity during October 2021, when compared with the last 12-month average, led by Nuveen’s $169m acquisition of Do Good Foods, according to GlobalData’s deals database.

 

A total of 29 food industry deals worth $387m were announced for the region in October 2021, against the 12-month average of 30 deals.

Of all the deal types, venture financing saw most activity in October 2021 with 15 transactions, representing a 51.7% share for the region.

In second place was M&A with ten deals, followed by private equity deals with four transactions, respectively capturing a 34.5% and 13.8% share of the overall deal activity for the month.

In terms of value of deals, private equity was the leading category in North America’s food industry with $179m, while M&A and venture financing deals totalled $108.24m and $99.76m, respectively.

North America food industry deals in October 2021: Top deals

The top five food deals accounted for 91% of the overall value during October 2021.

The combined value of the top five food deals stood at $352m, against the overall value of $387m recorded for the month.

The top five food industry deals of October 2021 tracked by GlobalData were:

1) Nuveen $169m private equity deal with Do Good Foods

2) The $90m acquisition of Sunnyvalley Smoked Meats by Swift Prepared Foods

3) Athlete ventures,Cameron Newton,D1 Capital,DJ Steve Aoki,Naomi Osaka and Tiger Global Management $65m venture financing deal with Daring Foods

4) The $18m acquisition of Belmont Confections by Tattooed Chef

5) Fonds de solidarite FTQ $10m private equity deal with Cook it Recipes