March, 2021

For 2021 YTD, strategic buyers accounted for 89% of Food and Beverage M&A transactions. During 2019, strategic buyers accounted for 91% of the transactions.

Select recent notable publicly announced M&A transactions:

– Lindsay Goldberg LLC entered into a definitive agreement to acquire ARYZTA North America from ARYZTA AG (SWX:ARYN) for enterprise value of $850 million on March 12, 2021.

– One Rock Capital Partners, LLC and Metropoulos & Co. entered into a definitive agreement to acquire Nestlé Waters North America Inc. from Nestlé S.A. (SWX:NESN) for $4.3 billion on February 16, 2021.

– Hormel Foods Corporation (NYSE:HRL) entered into a definitive agreement to acquire nuts business of The Kraft Heinz Company (NasdaqGS:KHC) for $3.4 billion on February 10, 2021. The purchase price is subject to customary adjustments.

– MGP Ingredients, Inc. (NasdaqGS:MGPI) entered into a definitive agreement to acquire Luxco, Inc. from lux family for approximately $500 million on January 22, 2021.

– American International Group, Inc. (NYSE:AIG) acquired an unknown stake in a Portfolio of Global Agricultural Holdings from Harvard Management Company, Inc. for $1 billion on October 8, 2020.

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