US food industry sees a rise of 4.00% in deal activity in October 2021

US food industry saw a rise of 4.00% in overall deal activity during October 2021, when compared with the last 12-month average, led by Nuveen’s $169m private equity deal with Do Good Foods, according to GlobalData’s deals database.

 

A total of 26 deals worth $376.8m were announced in October 2021, compared with the 12-month average of 25 deals.

venture financing was the leading category in the month in terms of volume with 15 deals, which accounted for 57.7% of all deals.

In second place was M&A with nine deals, followed by private equity with two transactions, respectively accounting for 34.6% and 7.7% of overall deal activity in the US technology industry during the month.

In terms of value of deals, private equity was the leading deal category in the US food industry with total deals worth $169m, while M&A and venture financing deals totaled $108m and $99.76m respectively.

US food industry deals in October 2021: Top deals

The top five food industry deals accounted for 92.6% of the overall value during October 2021.

The combined value of the top five food deals stood at $349m, against the overall value of $376.8m 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) Melitas Ventures,Owen Wilson,SOSVentures,Unovis Asset Management and Woody & Laura Harrelson $7m venture financing deal with Abbot’s Butcher (AB)