Olam Food Ingredients’ US$161.7m acquisition deal with Club Coffee was the beverage industry’s biggest cross-border deal of Q2 2022, as transactions worth $327.5m were announced globally in the quarter, according to GlobalData’s deals database.
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The total value of the deals marked a decrease of 84.2% over the previous quarter and a drop of 89.8% when compared with the last four-quarter average of $3.2bn.
In value terms, North America led the activity with cross-border deals worth $234.52m.
In terms of the number of cross-border deals, the sector saw a rise of 4.92% with 32 deals in Q2 2022 against the average of 30.50 deals in the last four quarters.
Beverage industry cross border deals in Q2 2022: Top deals
The top five beverage industry cross-border deals accounted for 98.3% of the overall value during Q2 2022.
The combined value of the top five cross-border deals stood at $321.72m, against the overall value of $327.5m recorded for the quarter.
The top five beverage industry cross-border deals of Q2 2022 tracked by GlobalData were:
1) Olam Food Ingredients’ $161.7m acquisition deal with Club Coffee
2) The $84.32m acquisition of Globus Wine by Anora Group
3) AgFunder, Horizons Ventures and S2G Ventures $40m venture-financing deal with Atomo Coffee
4) The $31m venture financing of Lemon Perfect by Beechwood Capital, Beyonce, Goat Rodeo Capital, Melitas Ventures, NNS Holding and Trousdale Ventures
5) Haltra Group’s $4.7m venture financing deal with Koa Switzerland