Mondelez International’s $2.9bn acquisition deal with Clif Bar & was the Food industry’s biggest deal of Q2 2022 as deals worth $8.2bn were announced globally in the quarter, according to GlobalData’s deals database.

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The value marked an increase of 200% over the previous quarter and a drop of 12.9% when compared with the last four-quarter average of $9.4bn.

In terms of number of deals, the sector saw a drop of 18.19% with 226 deals in Q2 2022 against the average of 276.25 deals in the last four-quarters.

In value terms, Asia-Pacific led the activity with deals worth $5.38bn.

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Food industry deals in Q2 2022: Top deals

The top five Food industry deals accounted for 72.6% of the overall value during Q2 2022.

The combined value of the top five deals stood at $5.95bn, against the overall value of $8.2bn recorded for the quarter.

The top five Food industry deals of Q2 2022 tracked by GlobalData were:

1) Mondelez International $2.9bn acquisition deal with Clif Bar &

2) The $1.3bn acquisition of S.A. de and Ricolino by Mondelez International

3) Advent International $1.1bn private equity deal with Irca

4) The $400m acquisition of Upside Foods by Abu Dhabi Growth Fund (ADG),Baillie Gifford UK Growth Trust,Bill Gates,Cargill,Cercano Management,Christiana Musk,CPT Capital,Givaudan,IndieBio,John Doerr,Kimbal Musk,Norwest Venture Partners,SALT Fund,SoftBank Vision Fund 2,Synthesis Capital,Temasek Holdings (Private) and Tyson Foods

5) Hanaco Ventures Capital and Synthesis Capital $250m venture financing deal with Redefine Meat