M&A activity in the food industry has been robust in 2018, with more than 100 deals closed over the first six months. Mega-sized deals continue to drive headlines throughout the industry with five deals topping the $1 billion mark this year. Most have heard of Amazon’s $13.7 billion acquisition of Whole Foods, but the Campbell Soup Company, Post Holdings, and the Hershey Company each executed deals over $1 billion.
Last month, Conagra announced its $10.9 billion acquisition of Pinnacle Foods—making good on its pledge last year that it would make acquisitions a priority. General Mills and Hershey, among other companies, have made similar pledges, providing further evidence that the balance of 2018, and likely 2019, will be similarly active.
