In Q1 2025, 50 transactions were announced in the food and beverage space, which marks a 34% quarter-over-quarter decline in transaction volume and the lowest quarterly deal count since Q2 2015. Although recent activity has been impacted by global tariff threats, year-over-year activity remains consistent. For the TTM period ending March 31, 2025, 282 transactions were announced in the food and beverage industry, which is in line with the TTM period ending March 31, 2024.
Despite lackluster transaction volume, several mega deals were announced in the nonalcoholic beverages, protein producers and better-for-you categories. The most significant transactions announced in these segments include PepsiCo Inc.’s acquisition of VNGR Beverage LLC (dba Poppi), Celsius Holdings Inc.’s acquisition of Alani Nutrition, Global Eggs’ acquisition of Hillandale Farms and Flowers Foods Inc.’s acquisition of Simple Mills Inc.
