A total of $5.64bn worth of deals were announced globally in the third quarter

The total value of global food industry M&A deals completed globally in the third quarter rose 95% over the previous three-month period, new data has revealed.

In the third quarter of 2019, a total of $5.64bn worth of deals were announced worldwide, a marked increase over the second quarter – but a 17% drop when compared to the last four-quarter average, which stood at $6.83bn, according to GlobalData’s deals database.

Geographically, Europe emerged as the top region for food industry M&A activity during the period, both in terms of value and volume, with $1.99bn of deals announced.

At a country level, South Africa topped the value list at $1.8bn.

The US was crowned the top country in terms of M&A activity in Q3, with 23 deals completed. The UK and Japan followed with 14 and nine deals respectively.

At the end of the third quarter, a total worth of $14.99bn food M&A deals had been announced since the start of 2019 – a 54% drop year on year.

Some of the most notable deals completed in the period, accounting for 75% of the overall value, included PepsiCo’s acquisition of Pioneer Foods, Pilgrim’s Pride’s deal to buy Tulip and Hershey’s acquisition of One Brands.

The research considers only announced and completed deals.