46 acquisitions in May

46 food and drink sector transactions were recorded on the Zenith Global mergers and acquisitions database during May. That is 11 more than for April, but again well below normal activity levels.

As in April, 2 were not far from the $250 million mark, but 1 reached $2,500 million.

• €2,250 million in coffee for the Dutch IPO of a 14.4% stake in JDE Peet’s

• £273 million in beer for Denmark’s Carlsberg to form a 60:40 UK brewing joint venture with Marston’s

• $250 million for CIC private equity and others to fund US-based Apeel Sciences in developing edible, plant-based packaging.

Of the 46 total, 11 were in ingredients, 7 in soft drinks, 5 in alcohol and 3 in services.

22 were within national borders, 15 of these in the United States. 24 were international, involving 21 countries.

The United States featured in 23 of the 46, the United Kingdom in 6, Switzerland in 4, Canada in 3, France in 3 and India in 3.

16 of the 46 were fund raising initiatives.