Opinion from global food and drink experts, Zenith Global


January 5th, 2011 | Posted by Richard Hall in Mergers & Acquisitions

It was a massive year end for mergers and acquisitions in food and drink, with 50 transactions recorded for December so far and at least three in excess of $1 billion.

The biggest was PepsiCo’s bid for 66% of Russia’s Wimm-Bill-Dann at $3.8 billion, followed by Ardagh’s packaging purchase of Impress for €1.7 billion and DSM’s ingredients deal with Martek for $1.1 billion.There were also three notable dairy mergers with Arla gunning for Hansa in Germany, Sodiaal swallowing Entremont in France and two Brazilian dairies combining to form Lacteos Brasil with $1.8billion sales.

12 of the 50 were in dairy, 8 in food, 8 in soft drinks, 7 in alcohol, 6 in ingredients and 6 more in packaging.

30 were single country transactions, 20 crossing national borders. 20 involved the United States, followed by the UK on 5, Brazil and Australia on 4, then Canada, France and Ireland on 3.

Sep Packaging FEMSA from Mexico sells flexible packaging operations  
Oct Bottled water Italy’s Norda buys Monticchio Gaudianello  
Nov Soft drinks Coca-Cola from US buys Mundet brand from FEMSA in Mexico  
  Dairy US General Mills to buy Mountain High yogurt brand from Dean Foods  
  Biscuits Tiger Brands from South Africa buys Deli Foods Nigeria  
  Food Tiger Brands from South Africa to buy 49% of new UAC Foods from UAC of Nigeria  
Dec Soft drinks Canada’s Blue Gold Beverages to buy TY Recycling $0.6m
  Dairy PepsiCo from US to buy 66% of Wimm-Bill-Dann in Russia $3.8bn
  Soft drinks Alothon and Partners Group private equity firms complete purchase of Casadoce from Grupo Cerradinho in Brazil R$100m
  Wine France’s Jacquart to buy Montaudon Champagne from LVMH  
  Alcohol South Africa’s Pioneer Food Group to buy KWV $119m
  Beer Royal Unibrew from Denmark to take 20% stake in Van Pur of Poland after incorporating its Polish operations  
  Dairy Switzerland’s Emmi to buy Le Petit Chevrier from Fromagerie Bettex CHF2.1m
  Food Indonesia’s Tudung to sell 30% of Garuda Food $300m
  Wine US Fiji Water buys Justin Vineyards  
  Dairy Bulgaria’s Bella to buy Ipex Group  
  Dairy Bulgaria’s Bella to buy Akurat Mlechna Promishlenost  
  Beer China’s Tsingtao to buy Shandong Xin $281m
  Coffee Zanetti from Italy buys Espresso Italia in Australia  
  Packaging Ardagh Glass completes purchase of Impress metal group in Europe €1.7bn
  Soft drinks US PepsiCo and Catterton private equity firm increase stake to majority of ONE coconut water  
  Wine India’s Tilaknagar buys Kesarval Springs  
  Food Greencore from Ireland buys On a Roll in US  
  Packaging Ball Corporation from US to buy Aerocan in Europe from Barclays Private Equity of UK €221m
  Soft drinks Suntory from Japan buys European operations of Sunny Delight based in US  
  Soft drinks US Sunny Delight to buy Texas plant from J M Smucker  
  Food US Roark private equity firm buys Atkins Nutritionals  
  Bottled water Ireland’s Ishka to buy Burren Spring, formerly Shannon Minerals, from Frank O’Mara family  
  Dairy Spain’s Esteve Carvaller buys 5% of Cacaolat from Nueva Rumasa €9m
  Food Germany’s Dermapharm buys Anton Hübner from Nordzucker  
  Food Nestlé from Switzerland to buy Jenny Craig operations in Australia and New Zealand  
  Food UK GlaxoSmithKline to buy Maxinutrition from Darwin Private Equity £162m
  Food US General Mills to buy Pasta Master  
  Packaging US Berlin buys Continental Packaging Solutions  
  Packaging Owens-Illinois from US to buy Hebei Rixin Glass Group in China  
  Soft drinks Coca-Cola Hellenic from Greece to buy remaining 33.6% of Nigerian Bottling Company €94m
  Dairy Yoplait from France buys Liberté in Canada from Swander private equity firm C$175m sales
  Ingredients Cargill from US to buy 85% of Sorini sorbitol producer in Indonesia $300m
  Packaging RPC from UK to buy Superfos of Denmark €240m
  Sugar Noble from Singapore to buy two Cerradinko cane mills in Brazil $590m
  Dairy Arla from Scandinavia to buy Hansa-Milch of Germany  
  Dairy France’s Sodiaal to buy Entremont  
  Dairy Ireland’s Glanbia to buy Dawn Dairies from Kerry €10m est
  Supplements US Omega Protein buys Cyvex Nutrition  
  Water Pentair from US to buy Hidro Filtros in Brazil  
  Food US High Road private equity firm affiliate buys Panos Brands from Wessanen of Netherlands $22m
  Dairy UK Dale Farm to buy Fane Valley liquid milk operations  
  Ingredients DSM from Netherlands to buy Martek Bio Sciences of US $1.09bn
  Flavours US Pinova buys LyondellBasell Flavors & Fragrances $150m
  Ingredients Wilmar from New Zealand completes purchase of Sucrogen in Australia  
  Packaging US Sterling private equity firm completes purchase of substantial equity interest in Saxco International  
  Dairy Brazil’s Bom Gosto and LeitBom to merge as Lacteos Brasil $1.8bn
  Ingredients Agropur from Canada buys Main Street Ingredients of US  
  Soft drinks Japan’s Asahi to buy Rokujo Mugicha tea brand from Kagome  
  Wine Champ private equity firm from Australia to buy 80% of Australia, South Africa and UK business from Constellation of US $230m
  Dairy Arla from Scandinavia to buy Sundsvall plant from Milko of Sweden  

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