Industry Insights for Owners of
Consumer & Healthcare Companies

Sector Update

Snack Food Industry Update October 2026

US snack sales grew about 4.8% to roughly $156 billion, and almost none of it came from volume. The companies winning now are the ones selling more un...

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Sector Update

Women's Health Industry Update October 2026

A category that lived in three different aisles is becoming a destination, and strategic acquirers have moved with it. Disclosed women's health deals ...

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Industry Report

Beverage Industry Update Q2 2026

The strategics have stopped waiting for internal innovation to catch the growth brands. From PepsiCo's $1.95 billion purchase of Poppi to KDP's landma...

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Industry Report

Biotech Update Q2 2026

Biotech capital invested more than doubled quarter over quarter to $133.2 billion, biopharma M&A ran at $55.1 billion in upfront cash, and the IPO win...

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Quarterly Update

Consumer Industry Update Q2 2026

Consumer median deal values set a twelve-quarter record and healthcare multiples touched a twenty-year high, while sponsors sat on their hands. Our Q2...

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Quarterly Update

Consumer Industry Update Q1 2026

Global deal value set an all-time record while capital crowded into a handful of megadeals, and healthcare capital invested climbed to $145.8 billion....

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Industry Report

Pet Industry Update January 2026

Revenue has grown more than 70% since 2018, and buyers are paying up for the businesses built on recurring care. Our 2026 update on where the pet econ...

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Quarterly Update

Consumer Industry Update Q4 2025

Global M&A closed 2025 at nearly $5 trillion, the strongest year for dealmaking on record, and the fourth quarter set a new North American high. Our Q...

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Industry Report

Beverage Industry Update Q3 2025

Energy and functional drinks won the summer of 2025, alcohol kept softening, and the largest strategics answered with their checkbooks. Our September ...

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Quarterly Update

Consumer Industry Update Q3 2025

Global deal value jumped 35.1% year over year to $1.1 trillion, the strongest quarter since late 2021, while consumer dealmaking held steady and rewar...

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Industry Report

Frozen Food Industry Update Summer 2025

A $91.3 billion category has shed its last-resort reputation, and buyers have noticed. Our Summer 2025 update on the trends, the transactions, and wha...

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Quarterly Update

Consumer Industry Update Q2 2025

Global deal count climbed 18.6% year-over-year while headline value slipped, and food and beverage turned in its busiest quarter in the nine we track....

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Quarterly Update

Consumer Industry Update Q1 2025

Consumer M&A opened 2025 at an estimated $162 billion in global value, food and beverage deal counts jumped 24.1%, and PepsiCo paid up twice for bette...

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Quarterly Update

Consumer Industry Update Q4 2024

Global consumer deal value climbed 44.2% in 2024, the sector's best showing since 2021, and the fourth quarter was the busiest B2C quarter of the year...

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Industry Report

Craft Beer Year End Report 2024

Craft volumes fell 2% in the first half of 2024 while brewery counts sat at historic highs. Our year end report on why disciplined operators, regional...

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Quarterly Update

Consumer Industry Update Q3 2024

Consumer M&A closed 219 transactions in Q3 2024, up 52% from a year earlier, as a first Fed rate cut and post-election optimism put buyers back to wor...

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Industry Report

Craft Beer Industry Update Summer 2024

Nearly 10,000 US breweries produced $29 billion in 2023 sales, yet production declined for the first time in the modern craft era. Our Summer 2024 pri...

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Quarterly Update

Consumer Industry Update Q2 2024

Consumer M&A closings returned to 192 in the second quarter of 2024, up 14% from Q1, with food and beverage transactions jumping 42%. Our Q2 2024 revi...

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Quarterly Update

Consumer Industry Update Q1 2024

Global M&A rose 31% from a year earlier, North America led the recovery, and consumer deal counts held steady while the mix underneath shifted. Our Q1...

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Industry Report

Kombucha Industry Update Winter 2024

A fermented tea that started on health-food shelves reached $2.8 billion in U.S. revenue in 2024, growing 19.7% a year since 2019. Our Winter 2024 upd...

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Quarterly Update

Consumer Industry Update Q4 2023

Global M&A rose 13% year-over-year in Q4 2023, consumer deal counts jumped 19% from the prior quarter, and quality consumer businesses commanded rough...

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Industry Report

Beauty Industry Update Fall 2023

The industry erased its pandemic losses within two years and kept growing straight through the inflation shock. Our Fall 2023 report on where beauty's...

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Quarterly Update

Consumer Industry Update Q3 2023

Global M&A value slipped just 3% year over year in Q3 2023 while the Fed held still, and deal metrics began to normalize after a bruising down cycle. ...

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Quarterly Update

Consumer Industry Update Q2 2023

Global deal value fell hard in Q2 2023, yet the number of deals getting done rose almost everywhere, and consumer volumes turned before the broader ma...

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Quarterly Update

Consumer Industry Update Q1 2023

Global deal value fell by nearly half in the first quarter of 2023, yet consumer M&A closings in the US and Canada slipped just 1% from the prior quar...

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Industry Report

Vitamins & Supplements Update Fall 2022

Nearly 1,800 U.S. supplement manufacturers compete in a market where the top four players hold less than 15% of revenue. Our Fall 2022 update on why t...

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Topics & Trends

Advancing with Omnichannel

Published in June 2022, this Topics & Trends piece captured the moment a pandemic survival tactic turned into a permanent buyer requirement. Buyers pa...

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Topics & Trends

Reset vs. Retrenchment

Published in December 2021, as inflation hit a 31-year high and equity markets sat at roughly 2.3 times their long-run earnings multiple. Our read at ...

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Topics & Trends

Convergence of Wellness and Consumer Products

In the 18 months after the pandemic began, consumer transactions with a wellness component totaled more than $77 billion at a median 8.94x EV/EBITDA. ...

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Industry Report

Brewer Industry Update September 2019

By September 2019, more than 7,000 craft brewers were competing for a beer market that had stopped growing. Our update from that moment captured an in...

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Industry Report

Healthy Food & Beverage Update April 2019

In every deal-size bracket we measured, healthy food and beverage companies sold at higher EV/EBITDA multiples than their mainstream peers. Our April ...

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Industry Report

Seafood Industry Update March 2019

By early 2019, global seafood M&A had climbed four years running and buyers were paying up for vertical integration. Our March 2019 report on the forc...

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White Paper

Buyer Profiles: Strategic vs. Financial

A strategic buyer and a private equity group can look at the same business and arrive at two different numbers, for structural reasons. Understanding ...

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Case Study

Catalog Company Case Study

A pre-eminent lifestyle specialty catalog company was selling more than $60 million a year and still losing money. The answer was not a sale. It was a...

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Case Study

Food & Beverage Case Study

A shelf stable salad dressing company with $6.8 million in revenue had already been to market once and come back unsold. The second process reached 11...

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Case Study

Frozen Food Manufacturer Case Study

A $40 million maker of frozen meatballs and barbequed meats needed capital it could not get from its bank. Two mezzanine raises later, it had a new pl...

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White Paper

Key Performance Metrics for Food Manufacturers

The benchmarks, and the harder-to-measure factors, that move the price a strategic or financial buyer will pay for a food manufacturer. Written for th...

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White Paper

M&A Deal Process and Timeline

Five phases, one disciplined process. A clear-eyed walkthrough of the M&A sale timeline, from preparation to closing, for owners who want to know what...

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