Analysis of the key themes driving M&A activity reveals that sensory & indulgence accounted for 5 beverage deals announced in Q4 2023, worth a total value of $3bn. The $1.2bn acquisition of COURVOISIER by Davide Campari-Milano was the industry’s largest disclosed deal. GlobalData’s Consumer Goods Industry Mergers and Acquisitions Deals by Top Themes in 2023 report offers critical insights into the M&A activity in the industry and the key themes driving the top deals. Buy the report here.

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In value terms, sensory & indulgence-related deal activity increased by 574% in Q4 2023 compared with the previous quarter’s total of $445.3m and rose by 251% as compared to Q4 2022. Related deal volume decreased by 29% in Q4 2023 versus the previous quarter and was 44% lower than in Q4 2022.

The top-ranked financial advisors supporting these M&A deals in Q4 2023 were Deutsche Bank; Evercore; Grant Samuel Group with 1, 1, 1 deals respectively.

The top-ranked legal advisors supporting these M&A deals in Q4 2023 were Latham & Watkins; Reed Smith; BonelliErede with 2, 2, 1 deals respectively.

For further understanding of GlobalData's Consumer Goods Industry Mergers And Acquisitions Deals By Top Themes In 2023 – Thematic Intelligence, buy the report here.

This content was updated on 8 January 2024

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Deals Database tracks global deal activity, including mergers, acquisitions, capital raising, strategic alliances, and licensing agreements. Proprietary analysis is used to group deals into key thematic areas and granular sectors across the world’s largest industries.

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Deal type includes Acquisition, Asset transactions and Mergers.