November, 2018

In YTD 2018, Technology and Software transactions value has been higher than 2017 and traded at lower multiples compared to 2017.

Select recent notable publicly announced M&A transactions:

– Microsoft Corporation (Nasdaq: MSFT) acquired GitHub for approximately $7.50 billion.

– Adobe Systems (Nasdaq: ADBE) acquired Magento for approximately $1.68 billion.

– SalesForce (NYSE: CRM) acquired MuleSoft for approximately $6.81 billion.

– General Dynamics (NYSE: GD) acquired CSRA Inc. (NYSE: CSRA) for approximately $9.95 billion.

November, 2018

Through YTD 2018, strategic buyers accounted for 89% of the Industrials and Manufacturing M&A transactions with financial buyers making up the difference; during 2017, strategic buyers accounted for approximately 90% of the transactions.

Select recent notable publicly announced M&A transactions:

– DWABTEC (NYSE: WAB) acquired a division of General Electric (NYSE: GE) for approximately $11.1 billion.

– Aviall, Inc. – a Boeing Company – acquired KLX Inc. (NasdaqGS: KLXI) for approximately $4.4 billion.

– Tenneco Inc. (NYSE: TEN) acquired Federal Mogul (NYSE: FDML) for approximately $5.4 billion.

– Knauf Group acquired USG (NYSE: USG) for approximately $6.48 billion.

November, 2018

Through YTD 2018, strategic buyers accounted for 84% of the E-Commerce M&A transactions with financial buyers making up the difference; during 2017, strategic buyers accounted for approximately 92% of the transactions.

Select recent notable publicly announced M&A transactions:

– Direct Digital acquired Healthy Directions for approximately $71 million.

– Albertsons Companies acquired Plated for approximately $300 million.

– QVC Group (NasdaqGS:QVCA) acquired HSN, Inc. (NasdaqGS:HSNI) for approximately $1.83 billion.

– Bain Capital Private Equity, LP; Bow Street, LLC acquired Blue Nile, Inc. for approximately $500 million.

November, 2018

For announced transactions, Restaurant multiples saw a modest increase from 9.6x EBITDA in 2016 to 10.8x EBITDA in 2017.

Select recent notable publicly announced M&A transactions:

– Durational Capital Partners and The Jordan Company acquired Bojangle’s for approximately $770 million.

– Inspire Brands acquired Sonic for approximately $2.3 billion.

– Del Frisco’s acquired Barteca for approximately $330 million.

– Spice Private Equity acquired Bravo Brio Restaurant Group for approximately $100 million.

November, 2018

For 2018 YTD, strategic buyers accounted for 84% of the Packaging M&A transactions with financial buyers making up the difference; during 2017, strategic buyers also accounted for approximately 82% of the transactions.

Select recent notable publicly announced M&A transactions:

– Novolex acquired The Waddington Group for $2.3 billion.

– Graphic Packaging International, Inc. acquired North America Consumer Packaging Business of International Paper Company for approximately $1.8 billion.

– DS Smith Plc (LSE:SMDS) acquired Indevco Management Resources, Inc. for approximately $1.15 billion.

– Loews Corporation (NYSE:L) acquired Consolidated Container Company LLC for approximately $1.2 billion.

– RPC Group Plc (LSE:RPC) acquired Letica Corporation for approximately $640 million.

– WestRock Company (NYSE:WRK) acquired Multi Packaging Solutions International Limited for approximately $2.3 billion.

November, 2018

In 2018 YTD, strategic buyers accounted for 83% of the Pet M&A transactions with financial buyers making up the difference; during 2016, strategic buyers accounted for approximately 93% of the transactions.

Select recent notable publicly announced M&A transactions:

– Smucker’s acquired Ainsworth for approximately $1.9 billion.

– Hines Resource Group acquired Spectrum Brands for approximately $2.3 billion.

– General Mills, Inc. acquired Blue Buffalo Pet Products, Inc. for approximately $8.3 billion.

– The Riverside Company acquired Petstages for an undisclosed amount.

– The Riverside Company acquired Bionic for an undisclosed amount.

November, 2018

In 2018 YTD, strategic buyers accounted for 87% of the IT Services M&A transactions with financial buyers making up the difference; during 2017, strategic buyers accounted for approximately 90% of the transactions.

Select recent notable publicly announced M&A transactions:

– Canada Pension Plan Investment Board acquired GlobalLogic, Inc. for approximately $2.0 billion.

– General Dynamics (NYSE: GD) acquired CSRA Inc. (NYSE: CSRA) for approximately $9.9 billion.

– Silver Lake and P2 Capital Partners, LLC acquired Blackhawk Network Holdings, Inc. (Nasdaq GS:HAWK) for approximately $4.0 billion.

– SS&C Technologies Holdings, Inc. (Nasdaq GS:SSNC) acquired DST Systems, Inc. (NYSE:DST) for approximately $5.8 billion.

November, 2018

For 2017, total U.S. F&B announced transactions of 495 deals, exceeding 2016 levels of 380. 2018 YTD volume is at 368 transactions: less than the 447 transactions in the same period one year ago.

Select recent notable publicly announced M&A transactions:

– ConAgra acquired Pinnacle Foods for an $10.9 billion.

– Frito Lay acquired Bare Snacks for an undisclosed amount.

– Mondelez International acquired Tate’s Bake Shop for $500 million.

– General Mills acquired Blue Buffalo for $8.3 billion

– Peakstone advises Gourmet Gift Concepts on sale of company to Hickory Farms for an undisclosed amount.

– Keurig acquired Dr Pepper Snapple Group for approximately $18.7 billion.

– Campbell’s acquired Snyder Lance for approximately $6.1 billion.

– Kellogg’s acquired Chicago Bar Company for approximately $600 million.

– Peakstone advises Market Fresh Produce on sale of company to Marquette Capital Partners for an undisclosed amount.

November, 2018

For 2018 YTD, strategic buyers accounted for 74% of Consumer and Retail M&A transactions. During 2017, strategic buyers accounted for 65% of the transactions.

Select recent notable publicly announced M&A transactions:

– ARG Holdings acquired Sonic for $2.3 billion.

– Vintage Investment Partners acquired Rent-A-Center for $1.3 billion.

– Marriott Vacations Worldwide Corp. acquired ILG Inc. for about $5.8 billion.

– Tenneco acquired Federal-Mogul for $5.4 billion.

– Peakstone advises Erehwon Mountain Outfitter on sale of company to Camping World Holdings, Inc. (NYSE:CWH) for an undisclosed amount.

– Arby’s Restaurant Group Inc. acquired Buffalo Wild Wings Inc. for approximately $2.9 billion.

– American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) acquired Metaldyne Performance Group Inc. for approximately $3.42 billion.

– BPS Direct, L.L.C. acquired Cabela’s Incorporated (NYSE:CAB) for approximately $8.67 billion.

– Circle K Stores Inc. acquired CST Brands, Inc. (NYSE:CST) for approximately $6.09 billion.

– Rye Parent Corp. acquired Panera Bread Company (NasdaqGS:PNRA) for approximately $7.66 billion.

November, 2018

For 2018 YTD, strategic buyers accounted for 84% of Automotive M&A transactions. During 2017, strategic buyers accounted for 89% of the transactions.

Select recent notable publicly announced M&A transactions:

– American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) acquired Metaldyne Performance Group Inc. for approximately $3.42 billion.

– Winnebago Industries, Inc. acquired Grand Design RV for approximately $500 million.

– Polaris Industries Inc. (Delaware) acquired TAP Automotive Holdings, LLC for approximately $670 million.

– Thor Industries, Inc. (NYSE:THO) acquired Jayco, Inc. for approximately $580 million.

– Vitro, S.A.B. de C.V. (BMV:VITRO A) acquired Pittsburgh Glass Works LLC for approximately $310 million.