Annual Deal Report - Retail

Synopsis
The report offers an overview of the trends surrounding deal volume and deal value in 2010, by deal type, segments and region, followed by a brief analysis of the primary objectives of companies entering into various transactions in the retail industry during the year. In addition, the chapter includes league tables on financial and legal advisors.

The main body of the report provides an extensive analysis on deals undertaken in the retail industry in 2010 by deal type, segment and region.

It also provides an extensive list of the top deals in the following retail segments: hypermarkets, supermarkets and discounters; department stores; specialist retailers; discount, variety stores and general merchandise retailers; online retailing; cash and carries and warehouse clubs; and convenience stores, neighborhood stores and gas stations.

The report also offers deals by deal type in North America, Europe, Asia-Pacific and the Rest of the World.

Summary
- The total value of deals in the retail industry in 2010 was US$ XX.XX billion.

- Deal activity rose at a steady rate on a monthly basis and peaked in March 2010.

- The principal driver of deal activity changed from business expansion to strategic expansion, with a primary focus on mitigating risks associated with dependence on domestic markets, traditional products and services, and retail formats.

- Deals in the retail industry were primarily undertaken with the objective of business expansion through inorganic growth to increase business scale. This was followed by the need to gain operational synergy by increasing service capabilities, adding new products and brands, and combining traditional stores with the online retail format.

- Emerging markets such as the BRIC nations (Brazil, Russia, India and China), continued to record considerable deal activity in 2010. Brazil was the least active when compared to the other three BRIC markets.

- Partnerships and merger and acquisitions (M&A) transactions dominated emerging markets, with most deals in China.

- In China, the most deal activity was from the discount, variety stores and general merchandise retailers segment, while the department stores and specialist retailers segments dominated deal activity in India.

- India did not record an M&A transaction above US$ XX.XX million, while Brazil, China and Russia reported one each.

- In 2010, there were a number of reported deals over US$1 billion in the private equity and venture capital (PE/VC) category, along with a number of M&A deals.

- Debt offerings worth US$ XX.XX billion accounted for XX.XX% of total deal value reported in the retail industry. M&A transactions accounted for XX.XX% of deal volume.

- In terms of deal volume, XX.XX% of all deal activity was from partnerships, and XX.XX% was from M&A transactions.

- Equity and debt offerings accounted for XX.XX% of total deal value in 2010. There were seven announced debt offerings and two equity offerings of over US$ XX.XX billion in 2010.

- In terms of deal value, equity offerings were dominant in the specialist retailers segment. In terms of deal volume, the discount, variety stores and general merchandise retailers segment led deal activity. Asia-Pacific recorded the most equity issues in 2010 in terms of volume, and Europe in terms of value.

- In 2010, the specialist retailers segment led debt offering activity in both volume and value terms, and North America had the largest debt offerings.

- Retail industry deal activity was driven by the discount, variety stores and general merchandise retailers, and the specialist retailers segments. The hypermarkets, supermarkets and discounters segment led deal activity in value terms.

- In terms of volume, the discount, variety stores and general merchandise retailers segment reported the highest levels of M&A activity, followed by the specialist retailers segment. In terms of value, the hypermarkets, supermarkets and discounters segment led M&A activity in 2010.

- The discount, variety stores and general merchandise retailers segment dominated PE/VC activity in terms of volume, while the specialist retailers segment led activity in terms of value. North America and Europe registered strong PE/VC activity in terms of volume, although in terms of deal value, North America dominated.

- North America was the most active M&A region in the retail industry, followed by Europe. In terms of value, Europe led M&A activity, followed by Asia-Pacific

Scope
The ‘Annual Deal Report’– Retail provides a detailed understanding and review of M&A activity, capital raising, and partnering deals and agreements entered into by companies in the retail industry in 2010.

This report includes a comprehensive analysis of the M&A, capital raising and partnering deals announced worldwide in 2010 through analytical insights from a segmental and regional perspective. It also provides an extensive list of top deals and quarterly analysis by deal type, segment and region.

Reasons toBuy
Using this report, dealmakers will effectively and efficiently gain an in-depth understanding into the deal activity in the global retailing industry.

Key Highlights
- The total value of deals in the retail industry in 2010 was US$XXX.X billion.

- Deals in the retail industry were primarily undertaken with the objective of business expansion through inorganic growth to increase business scale. This was followed by the need to gain operational synergy by increasing service capabilities, adding new products and brands, and combining traditional stores with the online retail format.

- Partnerships and merger and acquisitions (M&A) transactions dominated emerging markets, with most deals in China.

- Debt offerings worth US$XX.X billion accounted for XX% of total deal value reported in the retail industry. M&A transactions accounted for XX.X% of deal volume.

- In terms of deal volume, XX% of all deal activity was from partnerships, and XX% was from M&A transactions.

- Equity and debt offerings accounted for XX% of total deal value in 2010. There were seven announced debt offerings and two equity offerings of over US$X.X billion in 2010.

- In terms of deal value, equity offerings were dominant in the specialist retailers segment. In terms of deal volume, the discount, variety stores and general merchandise retailers segment led deal activity. Asia-Pacific recorded the most equity issues in 2010 in terms of volume, and Europe in terms of value.

- In 2010, the specialist retailers segment led debt offering activity in both volume and value terms, and North America had the largest debt offerings.

- Retail industry deal activity was driven by the discount, variety stores and general merchandise retailers, and the specialist retailers segments. The hypermarkets, supermarkets and discounters segment led deal activity in value terms.

- In terms of volume, the discount, variety stores and general merchandise retailers segment reported the highest levels of M&A activity, followed by the specialist retailers segment. In terms of value, the hypermarkets, supermarkets and discounters segment led M&A activity in 2010.

- The discount, variety stores and general merchandise retailers segment dominated PE/VC activity in terms of volume, while the specialist retailers segment led activity in terms of value. North America and Europe registered strong PE/VC activity in terms of volume, although in terms of deal value, North America dominated.

- North America was the most active M&A region in the retail industry, followed by Europe. In terms of value, Europe led M&A activity, followed by Asia-Pacific

Table of contents

1-Executive Summary
2-Introduction
2.1-What is this Report About?
2.2-Definitions
2.3-Summary Methodology
3-Financial Deals Overview: Deal Value and Volume Analysis
3.1-Deal Volume Analysis
3.1.1-Analysis by Deal Type
3.2-Deal Value Analysis
3.2.1-Analysis by Deal Type
3.2.2-Top Deals by Deal Value
3.2.3-Planned Deals
3.3-Segment and Regional Analysis of Deals
3.4-Deal Rationale Analysis
3.4.1-M&A Transactions
3.4.2-Equity Offerings
3.4.3-Debt Offerings
3.4.4-Partnerships
3.4.5-PE/VC
3.5-Top Financial Advisors
3.6-Top M&A Legal Advisors
4-Analysis by Deal Type
4.1-Overview
4.1.1-Monthly Analysis by Deal Volume
4.1.2-Monthly Analysis by Deal Value
4.2-Mergers and Acquisitions Analysis
4.2.1-Overview
4.2.2-Deal Value and Volume Trend by Segment
4.2.3-Deal Value and Volume Trend by Region
4.2.4-Major M&A Deals in 2010
4.2.5-Planned M&A Deals
4.3-Equity Capital Markets
4.3.1-Overview
4.3.2-Deal Value and Volume Trend by Segment
4.3.3-Deal Value and Volume Trend by Region
4.3.4-Major Equity Offering Deals in 2010
4.3.5-Planned Equity Offering Deals
4.4-Debt Markets
4.4.1-Overview
4.4.2-Deal Value and Volume Trend by Segment
4.4.3-Deal Value and Volume by Region
4.4.4-Major Debt Offering Deals in 2010
4.4.5-Major Public Debt Offering Deals in 2010
4.4.6-Planned Debt Offering Deals
4.5-Private Equity/Venture Capital
4.5.1-Overview
4.5.2-Deal Value and Volume Trend by Segment
4.5.3-Deal Value and Volume Trend by Region
4.5.4-Major Private Equity Deals in 2010
4.5.5-Planned Private Equity Deals
4.6-Partnership Agreements
4.6.1-Overview
4.6.2-Deal Value and Volume Trend by Segment
4.6.3-Deal Value and Volume Trend by Region
4.6.4-Major Partnership Deals in 2010
4.6.5-Planned Partnership Deals
5-Segmental Analysis of Deals
5.1-Overview
5.1.1-Quarterly Analysis
5.2-Hypermarkets, Supermarkets and Discounters
5.2.1-Deals Value and Volume Trend
5.2.2-Major Deals in the Hypermarkets, Supermarkets and Discounters Segment in 2010
5.3-Department Stores
5.3.1-Deals Value and Volume Trend
5.3.2-Major Deals in the Department Stores Segment in 2010
5.4-Specialist Retailers
5.4.1-Deals Value and Volume Trend
5.4.2-Major Deals in the Specialist Retailers Segment in 2010
5.5-Discount, Variety Stores and General Merchandise Retailers
5.5.1-Deals Value and Volume Trend
5.5.2-Major Deals in the Discount, Variety Stores and General Merchandise Retailers Segment in 2010
5.6-Online Retailing
5.6.1-Deals Value and Volume Trend
5.6.2-Major Deals in the Online Retailing Segment in 2010
5.7-Cash and carries and warehouse clubs
5.7.1-Deals Value and Volume Trend
5.7.2-Major Deals in the Cash and Carries and Warehouse Clubs Segment in 2010
5.8-Convenience Stores, Neighborhood Stores and Gas Stations
5.8.1-Deals Value and Volume Trend
5.8.2-Major Deals in the Convenience Stores, Neighborhood Stores and Gas Stations Segment in 2010
6-Regional Analysis of Deals
6.1-Overview
6.1.1-Region by Deal Type
6.1.2-Region by Segment
6.1.3-Quarterly Analysis
6.2-North America
6.2.1-Deals Value and Volume Trend
6.2.2-Deals Value and Volume by Deal Type
6.2.3-Deals Value and Volume by Segment
6.2.4-Major Deals in the North American Region in 2010
6.3-Europe
6.3.1-Deals Value and Volume Trend
6.3.2-Deals Value and Volume by Deal Type
6.3.3-Deals Value and Volume by Segment
6.3.4-Major Deals in the European Region in 2010
6.4-Asia-Pacific
6.4.1-Deals Value and Volume Trend
6.4.2-Deals Value and Volume by Deal Type
6.4.3-Deals Value and Volume by Segment
6.4.4-Major Deals in the Asia-Pacific Region in 2010
6.5-Rest of the World
6.5.1-Deals Value and Volume Trend
6.5.2-Deals Value and Volume by Deal Type
6.5.3-Deals Value and Volume by Segment
6.5.4-Major Deals in the Rest of the World Region in 2010
6.6-Deal Analysis in Emerging Markets
6.6.1-Brazil
6.6.2-Russia
6.6.3-India
6.6.4-China
7-Appendix
7.1-Methodology
7.2-Contact Us
7.3-About ICD Research
7.4-Disclaimer

List of Tables
Table 1: Quarterly Deal Volume Trend, 2010
Table 2: Quarterly Deal Volume by Deal Type, 2010
Table 3: Quarterly Deal Value Trend (US$ Million), 2010
Table 4: Quarterly Deal Value by Deal Type, 2010
Table 5: Major Deals, 2010
Table 6: Major Planned and Speculated Deals, 2011
Table 7: Deals by Segment and Region, 2010
Table 8: Top Financial Advisors, 2010
Table 9: Top Legal Advisors, 2010
Table 10: Deals by Deal Type: Value and Volume, 2010
Table 11: Deal Type: Monthly Deal Value Breakdown (US$ Million), 2010
Table 12: Deal Type: Monthly Deal Value Breakdown (US$ Million), 2010
Table 13: M&A Deals by Segment: Volume and Value, 2010
Table 14: M&A Deals by Region: Volume and Value, 2010
Table 15: Major M&A Deals, 2010
Table 16: Major Planned and Speculated M&A Deals, 2011
Table 17: Equity Offerings by Segment: Volume and Value, 2010
Table 18: Equity Offerings by Region: Volume and Value, 2010
Table 19: Major IPOs, 2010
Table 20: Major FPOs, 2010
Table 21: Major Private Placements, 2010
Table 22: Major Planned and Speculated Equity Offerings, 2011
Table 23: Debt Offerings by Segment: Volume and Value, 2010
Table 24: Debt Offerings by Region: Volume and Value, 2010
Table 25: Major Debt Offerings, 2010
Table 26: Major Public Debt Offerings, 2010
Table 27: Major Planned and Speculated Debt Offerings, 2011
Table 28: PE/VC Deals by Segment: Volume and Value, 2010
Table 29: PE/VC Deals by Region: Volume and Value, 2010
Table 30: Major Private Equity Deals, 2010
Table 31: Major Venture Capital Deals, 2010
Table 32: Major Planned and Speculated Private Equity Deals, 2011
Table 33: Partnership Deals by Segment: Volume, 2010
Table 34: Partnership Deals by Region: Volume, 2010
Table 35: Major Partnership Deals, 2010
Table 36: Major Planned and Speculated Partnership Deals, 2011
Table 37: Deals by Segment: Value and Volume, 2010
Table 38: Deal Volume: Segment by Deal Type
Table 39: Deal Value: Segment by Deal Type
Table 40: Quarterly Deal Volume by Segment, 2010
Table 41: Quarterly Deal Volume by Segment, 2010
Table 42: Quarterly Deals Hypermarkets, Supermarkets and Discounters Segment: Volume and Value, 2010
Table 43: Major M&A Deals: Hypermarkets, Supermarkets and Discounters Segment, 2010
Table 44: Major Equity Offerings: Hypermarkets, Supermarkets and Discounters Segment, 2010
Table 45: Major Debt Offerings: Hypermarkets, Supermarkets and Discounters Segment, 2010
Table 46: Major PE/VC Deals: Hypermarkets, Supermarkets and Discounters Segment, 2010
Table 47: Major Planned Deals: Hypermarkets, Supermarkets and Discounters Segment, 2011
Table 48: Quarterly Department Stores Segment Deals: Volume and Value, 2010
Table 49: Major M&A Deals: Department Stores Segment, 2010
Table 50: Major Debt Offerings: Department Stores Segment, 2010
Table 51: Major PE/VC Deals: Department Stores Segment, 2010
Table 52: Major Planned and Speculated Deals: Department Stores Segment, 2011
Table 53: Quarterly Specialist Retailers Segment Deals: Value and Volume, 2010
Table 54: Major M&A Deals: Specialist Retailers Segment, 2010
Table 55: Major Equity Offerings: Specialist Retailers Segment, 2010
Table 56: Major Debt Offerings: Specialist Retailers Segment, 2010
Table 57: Major PE/VC Deals: Specialist Retailer Segment, 2010
Table 58: Major Planned and Speculated Deals: Specialist Retailer Segment, 2011
Table 59: Quarterly Discount, Variety Stores and General Merchandise Retailers Segment Deals: Value and Volume, 2010
Table 60: Major M&A Deals: Discount, Variety Stores and General Merchandise Retailers Segment, 2010
Table 61: Major Equity Offerings: Discount, Variety Stores and General Merchandise Retailers Segment, 2010
Table 62: Major Debt Offerings: Discount, Variety Stores and General Merchandise Retailers Segment, 2010
Table 63: Major PE/VC Deals: Discount, Variety Stores and General Merchandise Retailers Segment, 2010
Table 64: Quarterly Online Retailing Segment Deals: Value and Volume, 2010
Table 65: Major M&A Deals: Online Retailing Segment, 2010
Table 66: Major Equity Offerings: Online Retailing Segment, 2010
Table 67: Major Debt Offerings: Online Retailing Segment, 2010
Table 68: Major PE/VC Deals: Online Retailing Segment, 2010
Table 69: Major Planned Deals: Online Retailing Segment, 2011
Table 70: Quarterly Cash and Carries and Warehouse Clubs Segment Deals: Value and Volume, 2010
Table 71: Major Deals: Cash and Carries and Warehouse Clubs Segment, 2010
Table 72: Major Planned Deals: Cash and Carries and Warehouse Clubs Segment, 2011
Table 73: Quarterly Convenience Stores, Neighborhood Stores and Gas Stations Segment Deals: Value and Volume, 2010
Table 74: Major M&A Deals: Convenience Stores, Neighborhood Stores and Gas Stations Segment, 2010
Table 75: Major Equity Offerings: Convenience Stores, Neighborhood Stores and Gas Stations Segment, 2010
Table 76: Major Debt Offerings: Convenience Stores, Neighborhood Stores and Gas Stations Segment, 2010
Table 77: Major PE/VC Deals: Convenience Stores, Neighborhood Stores and Gas Stations Segment, 2010
Table 78: Major Planned Deals: Convenience Stores, Neighborhood Stores and Gas Stations Segment, 2011
Table 79: Deals by Region: Value and Volume, 2010
Table 80: Deal Volume: Region by Deal Type, 2010
Table 81: Deal Value: Region by Deal Type, 2010
Table 82: Deal Volume: Region by Segment, 2010
Table 83: Deal Value: Region by Segment, 2010
Table 84: Quarterly Deal Volume by Region, 2010
Table 85: Quarterly Deal Value by Region, 2010
Table 86: Quarterly North American Region Deals: Volume and Value, 2010
Table 87: Quarterly North American Region Deals: Deal Type
Table 88: Quarterly North American Region Deals: Segment
Table 89: Major M&A Deals: North American Region, 2010
Table 90: Major Equity Offerings: North American Region, 2010
Table 91: Major Debt Offerings: North American Region, 2010
Table 92: Major PE/VC Deals: North American Region, 2010
Table 93: Major Planned and Speculated Deals: North American Region, 2011
Table 94: Quarterly European Region Deals: Value and Volume, 2010
Table 95: Quarterly European Region Deals: Deal Type
Table 96: Quarterly European Region Deals: Segment
Table 97: Major M&A Deals: European Region, 2010
Table 98: Major Equity Offerings: European Region, 2010
Table 99: Major Debt Offerings: European Region, 2010
Table 100: Major PE/VC Deals: European Region, 2010
Table 101: Major Planned and Speculated Deals: European Region, 2011
Table 102: Quarterly Asia-Pacific Region Deals: Volume and Value, 2010
Table 103: Quarterly Asia-Pacific Region Deals: Deal Type
Table 104: Quarterly Asia-Pacific Region Deals: Segment
Table 105: Major M&A Deals: Asia-Pacific Region, 2010
Table 106: Major Equity Offerings: Asia-Pacific Region, 2010
Table 107: Major Debt Offerings: Asia-Pacific Region, 2010
Table 108: Major PE/VC Deals: Asia-Pacific Region, 2010
Table 109: Major Planned and Speculated Deals: Asia-Pacific Region, 2011
Table 110: Quarterly Rest of the World Region Deals: Volume and Value, 2010
Table 111: Quarterly Rest of the World Region Deals: Deal Type
Table 112: Quarterly Rest of the World Region Deals: Segment
Table 113: Major M&A Deals: Rest of the World Region, 2010
Table 114: Major Equity Offerings: Rest of the World Region, 2010
Table 115: Major Debt Offerings: Rest of the World Region, 2010
Table 116: Major PE/VC Deals: Rest of the World Region, 2010
Table 117: Major Planned and Speculated Deals: Rest of the World Region, 2011
Table 118: Major Deals in Brazil, 2010
Table 119: Major Partnership Deals in Brazil, 2010
Table 120: Major Deals in Russia, 2010
Table 121: Major Partnership Deals in Russia, 2010
Table 122: Major M&A Deals in India, 2010
Table 123: Major Equity Offerings in India, 2010
Table 124: Major PE/VC deals in India, 2010
Table 125: Major Partnership Deals in India, 2010
Table 126: Major M&A Deals in China, 2010
Table 127: Major PE/VC Deals in China, 2010
Table 128: Major Equity Offerings in China, 2010
Table 129: Major Partnership Deals in China, 2010

List of Figures
Figure 1: Quarterly Deal Volume and Value Trend, 2010
Figure 2: Quarterly Deal Volume by Deal Type, 2010
Figure 3: Quarterly Deal Value Trend (US$ Million), 2010
Figure 4: Quarterly Deal Value by Deal Type, 2010
Figure 5: Deals by Segment and Region, 2010
Figure 6: Deal Rationale Analysis, 2010
Figure 7: Deals by Deal Type: Value and Volume, 2010
Figure 8: Deal Type: Monthly Deal Volume Breakdown (US$ Million), 2010
Figure 9: M&A Deals by Segment: Volume and Value, 2010
Figure 10: M&A Deals by Region: Volume and Value, 2010
Figure 11: Equity Offerings by Segment: Volume and Value, 2010
Figure 12: Equity Offerings by Region: Volume and Value, 2010
Figure 13: Debt Offerings by Segment: Volume and Value, 2010
Figure 14: Debt Offerings by Region: Volume and Value, 2010
Figure 15: PE/VC Deals by Segment: Volume and Value, 2010
Figure 16: PE/VC Deals by Region: Volume and Value, 2010
Figure 17: Partnership Deals by Segment: Volume, 2010
Figure 18: Partnership Deals by Region: Volume, 2010
Figure 19: Deals by Segment: Value and Volume, 2010
Figure 20: Deal Volume: Segment by Deal Type
Figure 21: Deal Value: Segment by Deal Type
Figure 22: Quarterly Deals Hypermarkets, Supermarkets and Discounters Segment: Volume and Value, 2010
Figure 23: Quarterly Department Stores Segment Deals: Volume and Value, 2010
Figure 24: Quarterly Specialist Retailers Segment Deals: Value and Volume, 2010
Figure 25: Quarterly Discount, Variety Stores and General Merchandise Retailers Segment Deals: Value and Volume, 2010
Figure 26: Quarterly Online Retailing Segment Deals: Value and Volume, 2010
Figure 27: Quarterly Cash and Carries and Warehouse Clubs Segment Deals: Value and Volume, 2010
Figure 28: Quarterly Convenience Stores, Neighborhood Stores and Gas Stations Segment Deals: Value and Volume, 2010
Figure 29: Deals by Region: Value and Volume, 2010
Figure 30: Deal Volume: Region by Deal Type, 2010
Figure 31: Deal Volume: Region by Segment, 2010
Figure 32: Quarterly Deal Volume by Region, 2010
Figure 33: Quarterly North American Region Deals: Volume and Value, 2010
Figure 34: Quarterly North American Region Deals: Deal Type
Figure 35: Quarterly North American Region Deals: Segment
Figure 36: Quarterly European Region Deals: Value and Volume, 2010
Figure 37: Quarterly European Region Deals: Deal Type
Figure 38: Quarterly European Region Deals: Segment
Figure 39: Quarterly Asia-Pacific Region Deals: Volume and Value, 2010
Figure 40: Quarterly Asia-Pacific Region Deals: Deal Type
Figure 41: Quarterly Asia-Pacific Region Deals: Segment
Figure 42: Quarterly Rest of the World Region Deals: Volume and Value, 2010
Figure 43: Quarterly Rest of the World Region Deals: Deal Type
Figure 44: Quarterly Rest of the World Region Deals: Segment

Related research categories

By sector: Retail (in Off-trade)