Food and beverage (including alcohol)
Food and beverage (including alcohol) drove overall deal value with McCormick & Co.'s acquisition of the food division of Reckitt Benckiser for $4.2 billion. Post Holding’s pending acquisition of Bob Evan’s Farms for $1.5 billion was another megadeal in this sub-sector in the quarter. These two megadeals represent the struggle that the packaged food industry continues to face as consumers’ preferences shift towards fresh, organic and healthy foods.
E-commerce observed the second largest deal of the sector, the pending acquisition of HSN Inc. for $2.1 billion by Liberty Interactive Corp. The deal will help Liberty develop its e-commerce and mobile shopping platforms and improve its programming content across its networks. Another noteworthy deal in this sub-sector includes IKEA’s, pending acquisition of TaskRabbit Inc., an internet portal operator for an undisclosed amount. This deal emphasizes how businesses continue to grow their digital capabilities and enhance their customer service offerings.