Europe’s consumer industry saw a drop of 32.08% in cross border deal activity during October 2022, when compared with the last 12-month average, led by Lamb Weston Holdings’ $686.16m acquisition of 50% stake in Lamb Weston Meijer VOF, according to GlobalData’s deals database.

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A total of 36 consumer industry cross border deals worth $1bn were announced for the region in October 2022, against the 12-month average of 53 deals.

Of all the deal types, M&A saw most activity in October 2022 with 26 transactions, representing a 72.2% share for the region.

In second place was venture financing with six deals, followed by private equity deals with four transactions, respectively capturing a 16.7% and 11.1% share of the overall cross border deal activity for the month.

In terms of value of cross border deals, M&A was the leading category in Europe’s consumer industry with $751.5m, while private equity and venture financing deals totalled $210.19m and $75.63m, respectively.

Europe consumer industry cross border deals in October 2022: Top deals

The top five consumer cross border deals accounted for 93.9% of the overall value during October 2022.

The combined value of the top five consumer cross border deals stood at $973.98m, against the overall value of $1bn recorded for the month.

The top five consumer industry cross border deals of October 2022 tracked by GlobalData were:

1) Lamb Weston Holdings’s $686.16m acquisition deal for 50% stake in Lamb Weston Meijer VOF

2) The $150m private equity of Puttshack by BlackRock and Promethean Investments

3) Sofival and Three Hills Capital Partners’s $60.19m private equity deal with Castellet Hospitality

4) The $47.7m venture financing of Gourmey Foods by Air Street Capital, Beyond capital ventures, Discovery Ventures, Earlybird Ventures, Fidji Simo, Heartcore Capital, Keen Venture Partners, Omnes Capital, Partech Partners, Point Nine Capital and Thia Ventures

5) Camplify’s $29.93m acquisition deal with PaulCamper and PaulCamper Insurance Broker