North America’s food industry saw a drop of 8% in deal activity during May 2021

North America’s food industry saw a drop of 8.00% in deal activity during May 2021, when compared with the last 12-month average, led by Graphene Ventures, K3 Ventures and UBS O’Connor’s $170m acquisition of Good Meat, according to GlobalData’s deals database.

 

A total of 23 food industry deals worth $962.4m were announced for the region in May 2021, against the 12-month average of 25 deals.

Of all the deal types, private equity saw most activity in May 2021 with 11 transactions, representing a 47.8% share for the region.

In second place was M&A with nine deals, followed by venture financing deals with three transactions, respectively capturing a 39.1% and 13.04% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in North America’s food industry with $792.26m, followed by venture financing deals totalled $170.1m.

North America food industry deals in May 2021: Top deals

The top five food deals accounted for 43.9% of the overall value during May 2021.

The combined value of the top five food deals stood at $422.53m, against the overall value of $962.4m recorded for the month.

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

1) Graphene Ventures, K3 Ventures and UBS O’Connor’s $170m venture financing of Good Meat

2) The $155.03m acquisition of Bute Island Foods and Wisconsin Specialty Protein by Saputo

3) Cal-Maine Foods’ $48.5m acquisition of Red River Valley Egg Farm

4) The $37m acquisition of Karsten Tortilla Factory and New Mexico Food Distributors by Tattooed Chef

5) Laird Superfood’s acquisition of Picky Bars for $12m.