The $65m acquisition of Superior Cake Products by Sara Lee Frozen Bakery was in the top three US food industry M&A deals in Q3 for 2019, with total food industry M&A deals in Q3 2019 worth $1.47bn were announced in the US, according to GlobalData’s deals database.
The value marked an increase of 1240.5% over the previous quarter and a drop of 51.4% when compared with the last four-quarter average of $3.02bn.
The US held a 26.01% share of the global food industry M&A deal value that totalled $5.64bn in Q3 2019.
In terms of deal activity, the US recorded 23 deals during Q3 2019, marking a drop of 45.2% over the previous quarter and a drop of 36.1% over the last four-quarter average.
The US food industry M&A deals in Q3 2019: Top deals
The top three food industry M&A deals accounted for 99.3% of the overall value during Q3 2019.
The combined value of the top three food M&A deals stood at $1.46bn, against the overall value of $1.47bn recorded for the month.
The top three food industry deals of Q3 2019 tracked by GlobalData were:
- The Simply Good Foods’ $1bn acquisition of VMG Quest Blocker and Voyage Holdings
- The $397m acquisition of One Brands by The Hershey
- Sara Lee Frozen Bakery $65m acquisition of Superior Cake Products.