M&A deal activity in the food and beverage space slightly decreased in Q1 2022, with three less transactions than the previous quarter. There were 363 deals closing over the trailing 12-month (TTM) period, ending March 31, 2022, an increase of 37 transactions year-over-year. Transaction volumes in Q1 2022 were lower than the previous year, with 82 deals announced compared to 93. Q1 2022 marks the seventh consecutive quarter with over 80 deals announced in the North American food and beverage space.

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Q1 2022 saw several notable North American deals in the alcoholic beverage space. Monster Beverage Corporation acquired a majority stake in CANarchy Craft Brewery Collective, adding alcoholic beverages to their product portfolio. In addition, Starfield Properties lnc. acquired Shafer, further expanding their wine business. Alcoholic beverages, general, better-for-you and produce were the most active categories in terms of deal volume, representing 56% of total transactions in the quarter.

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M&A activity in the food and beverage sector in Q1 2022 TTM is still predominately driven by strategic buyers (including companies primarily owned by private equity investors), with strategic transactions representing 78% of total deal value. Of the 363 deals closed over Q1 2022 TTM, 260 (72%) were completed by privately owned buyers.