Total beverage industry M&A deals worth $679.3m were announced in North America in Q3 2022, led by PepsiCo’s $550m acquisition of 8.5% stake in Celsius Holdings, according to GlobalData’s deals database.

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The value marked an increase of 57% over the previous quarter and a rise of 89.2% when compared with the last four-quarter average of $359m.

North America held a 26.85% share of the global beverage industry M&A deal value that totalled $2.53bn in Q3 2022. With a 25.48% share and deals worth $644.76m, the US was the top country in North America’s M&A deal value across beverage industry.

In terms of deal activity, North America recorded 28 deals during Q3 2022, marking a decrease of 24.32% over the previous quarter and a drop of 9.68% over the last four-quarter average. The US recorded 23 deals during the quarter.

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North America beverage industry M&A deals in Q3 2022: Top deals

The top five beverage industry M&A deals accounted for 99% of the overall value during Q3 2022.

The combined value of the top five M&A deals stood at $672.14m, against the overall value of $679.3m recorded for the quarter.

The top five beverage industry deals of Q3 2022 tracked by GlobalData were:

1) PepsiCo’s $550m acquisition deal for 8.5% stake in Celsius Holdings

2) The $46m acquisition of Royal Crown Cola International by Macay Holdings

3) Royal Unibrew’s $33.64m acquisition deal with Amsterdam Brewery

4) The $27.5m acquisition of Laird Superfood by EF Hutton SPV I

5) Davide Campari-Milano’s $15m acquisition deal for 15% stake in Howler Head