Food Institute tracks record M&A growth in exclusive annual report
Food industry M&A hit a record total in 2017, reaching its highest point in over 15 years, according to The Food Institute’s recently released Food Business Mergers & Acquisitions 2017 report. Total deals for the year climbed to 591, moving well past 2016's high of 505 deals, but still remaining under 1999's record 813 deals.
Food processors took part in 191 deals in 2017, a 33.6 percent increase from 2016. Cargill, Nestle, Premium Brands Holdings and Unilever were the most active companies in the category, together making up 12 percent of food manufacturer acquisitions. Unilever continued to invest in small and artisanal brands in 2017, such as Sir Kensington's, Pukka Herbs, Mae Terra, Tazo, and Sun Basket. Other processors maintained their efforts to acquire smaller, artisanal and specialty brands, as well. General Mills' food incubator 301 Inc. invested in healthy snacking startup D's Naturals and acquired a minority stake in Purely Elizabeth; Campbell Soup Co. acquired Pacific Foods; Cargill invested in lab-grown meat producer Memphis Meats; Conagra Brands acquired snack makers Thanasi Foods LLC, Bigs LLC and Angie's Artisan Treats LLC; Dean Foods invested in milk alternative producer Good Karma; Hershey Co. acquired Amplify Snack Brands; and Nestle acquired Chameleon Cold-Brew, meatless frozen food maker Sweet Earth, and stakes in Blue Bottle Coffee and healthy ready meals group Freshly.