US food industry sees a drop of 8.33% in deal activity in February 2021

US food industry saw a drop of 8.33% in overall deal activity during February 2021, when compared with the last 12-month average, led by Hormel Foods’ $3.35bn asset transaction with Kraft Heinz, according to GlobalData’s deals database.

 

A total of 22 deals worth $3.38bn were announced in February 2021, compared with the 12-month average of 24 deals.

venture financing was the leading category in the month in terms of volume with ten deals, which accounted for 45.5% of all deals.

In second place was M&A with eight deals, followed by private equity with four transactions, respectively accounting for 36.4% and 18.2% of overall deal activity in the US technology industry during the month.

In terms of value of deals, M&A was the leading deal category in the US food industry with total deals worth $3.35bn, followed by venture financing deals totalled $30.04m.

US food industry deals in February 2021: Top deals

The top five food industry deals accounted for 99.7% of the overall value during February 2021.

The combined value of the top five food deals stood at $3.37bn, against the overall value of $3.38bn recorded for the month.

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

1) Hormel Foods’ $3.35bn asset transaction with Kraft Heinz

2) The $12.5m venture financing of PeaTos by Post Holdings

3) Adjuvant Capital, Bridgette Heller, DSG Consumer Partners, DSM Venturing, Great Point Ventures Fund, Seth Goldman and Shazi Visram’s $6m venture financing of Frontier Nutrition

4) The $3.6m venture financing deal with Boulder Sausage by MBH Corporation

5) Beni Venture Capital, Climate Capital, Deep Ventures, FF Asset Management, Innovating Capital, Litani Ventures, Oceanic Partners , SOSVentures and Tech Coast Angels San Diego’s acquisition of Simply Foods for $2m.