"There's been a nice uptick in M&A in the food industry in the first half of the year...," said Michael Milani, executive managing director and principal at advisory firm Baker Tilly.
"It has been a big theme, and we expect that to continue in the back half of 2023 and into early 2024."The value of deals in the U.S. food and beverage industry slipped nearly 3% to about $10.39 billion this year, according to LSEG data. But their volumes climbed 17.5% to 248 as of Sept. 1, making the industry a bright spot in dealmaking.
"I would expect there to be a continued drumbeat of M&A," said Sarah Henry, managing director and portfolio manager at Logan Capital Management, which holds shares in PepsiCo
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