The US drinks industry saw a drop of 11.7% in overall deal activity during Q3 2019, when compared with the last four-quarter average, according to GlobalData’s deals database.
A total of 53 deals worth $511m were announced in Q3 2019, compared to the last four-quarter average of 60 deals.
Venture financing was the leading category in the quarter with 31 deals which accounted for 58.5% of all deals, followed by M&A with 22 deals which accounted for 41.5% of overall deal activity in the country’s drinks industry during the quarter.
In terms of value of deals, M&A was the leading deal category in the US drinks industry with total deals worth $405.07m, followed by private equity deals totaled $105.93m.
The US drinks industry deals in Q3 2019: Top deals
The top five drinks deals accounted for 82.8% of the overall value during Q3 2019.
The combined value of the top five drinks deals stood at $423.02m, against the overall value of $511m recorded for the month.
The top five drinks industry deals of Q3 2019 tracked by GlobalData were:
- Pernod Ricard’s $223m acquisition of Castle Brands
- The $113m acquisition of Cameron’s Specialty Coffee by Grupo Nutresa
- The Alkaline Water’s $50.82m acquisition of AquaHydrate
- The $20m venture financing of Health-Ade by CAVU Venture Partners and First Drinks Ventures
- Eastside Distilling’s acquisition of Azunia Tequila for $16.2m.
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