Total Food industry cross border M&A deals worth $1.6bn were announced globally in Q2 2022, led by Mondelez International’s $1.3bn acquisition of S.A. de and Ricolino, according to GlobalData’s deals database.

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The value marked an increase of 291.8% over the previous quarter of $400.67m and a drop of 33.8% when compared with the last four-quarter average, which stood at $2.37bn.

Comparing cross border M&A deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $1.3bn. At the country level, the Mexico topped the list in terms of deal value at $1.3bn.

In terms of volumes, Europe emerged as the top region for Food industry cross border M&A deals globally, followed by Asia-Pacific and then North America.

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The top country in terms of cross border M&A deals activity in Q2 2022 was the UK with five deals, followed by Germany with four and Ireland with three.

In 2022, at the end of , cross border M&A deals worth $1.97bn were announced globally in Food industry, marking a decrease of 69% year on year.

Cross Border M&A deals in Food industry in Q2 2022: Top deals

The top three cross border M&A deals in Food industry accounted for 97.5% of the overall value during Q2 2022.

The combined value of the top three deals stood at $1.56bn, against the overall value of $1.6bn recorded for the quarter.

The top three Food industry cross border Food deals of Q2 2022 tracked by GlobalData were:

1) Mondelez International $1.3bn acquisition deal with S.A. de and Ricolino

2) The $241.25m acquisition of 20% stake in Inner Mongolia Mengniu Dairy (Group) by China Mengniu Dairy

3) Humble Group $22.13m acquisition deal with Go Superfoods