简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:By Praveen Paramasivam (Reuters) – Niche U.S. packaged-food brands facing a funding crunch are emerging as attractive targets for bigger players such as Kraft Heinz and Mondelez, which are looking to expand their product lineup in a highly competitive market.
div classBodysc17zpet90 cdBBJodivpBy Praveen Paramasivamp
pReuters – Niche U.S. packagedfood brands facing a funding crunch are emerging as attractive targets for bigger players such as Kraft Heinz and Mondelez, which are looking to expand their product lineup in a highly competitive market.pdivdivdiv classBodysc17zpet90 cdBBJodiv
pMany early investors are tightening their purse strings due to rising interest rates and the economic impact of the pandemic, forcing several smaller companies to consider M&A as the next viable step.p
p“Smaller companies are wanting to shore up their balance sheets given the challenging inflation dynamics, so they are looking to partner for safety,” said Charles Coristine, chief executive of popcorn and mini cookies maker LesserEvil.p
pPet food brand PetPlate told Reuters that it received more calls from bankers regarding potential takeover offers so far this year than it did in the whole of 2021.p
p“We get approached about once per week from an investment bank representing the strategics, and thats compared to once a quarter last year,” PetPlate CEO Gertrude Allen said.p
pCanadian plantbased foods maker Above Food said based on current trends, it was expecting to field more calls about a possible takeover this year than it did a year earlier.p
pDealmaking in the U.S. food and beverage sector jumped 18 in the first three months of the year, according to data firm CB Insights, despite 2021 being a record year for mergers and acquisitions.p
p“Now that balance sheets have been restructured and valuations have come down across the market, we could see larger packaged food companies pursue more bolton acquisitions or even largescale acquisitions,” CFRA Research equity analyst Arun Sundaram said. p
pEarlier this week, Toblerone maker Mondelez said it would spend 1.3 billion for Mexican breadmaker Grupo Bimbos confectionery business, Ricolino, its second billiondollar deal this year.p
pMeanwhile, Hershey, which acquired Lily‘s and Dot’s Pretzels last year for 1.2 billion, told Reuters that M&A would continue to play an important role.p
p“The largest food companies in the world today really need to continue to reinvent themselves. And probably one of the best ways to do that is through M&A,” Farmers Dog CEO Jonathan Yoni Regev said.p
p
pp Reporting by Praveen Paramasivam in Bengaluru Editing by Anil DSilva and Aishwarya Venugopalp
divdivdiv classBodysc17zpet90 cdBBJodivdivdiv
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.