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Industry Update: Food & Beverage M&A – May, 2016

May, 2016.

Food and Beverage (“F&B”) M&A continues to see strong activity. Q1 2016 had a transaction volume of 117 deals which is just under Q4 2015 record levels, 127 deals in Q4 2015.

For YTD 2016, strategic buyers accounted for 90% of F&B M&A transactions. During 2015, strategic buyers accounted for 87% of the transactions.

Many F&B categories continue to outperform the S&P 500.

Notable publicly announced Q1 2016 M&A transactions:

– InvenTrust Properties Corp. acquired Stevenson Ranch Plaza in Los Angeles, California for approximately $73 million.

– Constellation Brands Inc. entered into a definitive agreement to acquire Huneeus Vintners LLC for approximately $285 million.

-United Natural Foods, Inc. acquired Nor-Cal Produce, Inc. for approximately $69 million.

– Apollo Global Management, LLC entered into a definitive agreement to acquire The Fresh Market, Inc. for approximately $1.3 billion.

– Sazerac Company, Inc. entered into an agreement to acquire the Southern Comfort and Tuaca brands from Brown-Forman Corporation for approximately $544 million.

– Glencoe acquired Clearbrook Farms for an undisclosed amount.  Peakstone was the advisor to Clearbrook on this transaction.

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