The US was the top geographical location for M&A activity in the beverages industry in the fourth quarter of 2021, according to recently-released figures.

The country registered three transactions in the three months to the end of December, according to GlobalData. Despite topping the pile, the US registered a decline against the third quarter of last year, when GlobalData recorded five deals.

Australia also performed well in Q4 with two deals, up from zero in the quarter prior.

As well as being the global hotspot for M&A dealmaking in beverages, the US has also seen the largest industries-wide uptick in recent months. The country was home to 29 deals in the second half of last year, up from an average of 13 deals every six months between 2019 and 2021.

In beverages, the rate represents the largest increase in M&A transactions for any country, compared to an average of one deal announced every six months between 2019 and 2021. Although an improvement, this is still the smallest increase in M&A dealmaking in beverages for any country in recent months.

Globally, the M&A situation is mixed in beverages. A total of 22 deals were announced in the last quarter, down from 29 deals in the previous three months but up from an average of 18 deals per quarter over the previous three years.

GlobalData tracks the performance and activities of more than 675,000 companies in over 200 countries around the world. The data analytics firm’s deals database includes the details of around 1m deals, ranging from mergers and acquisitions to venture capital financing, equity offerings and debt offerings.