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Drinks industry deals top $12bn in Q3 2019
Drinks industry sales and acquisitions were valued at US$12.74 billion during the third quarter of 2019, according to new research from analyst Global Data.
Drinks industry deals topped $12bn in Q3 2019
In the three months to September 2019, the value of these deals increased by 328.04% compared to the previous quarter. The figure was also 167.6% higher than the previous four-quarter average of US$4.76bn.
The largest spirits company acquisition was Heaven Hill Brands’ US$266 million takeover of Black Velvet Distilling, which was finalised this month (November).
Global Data reported the second highest spirits sale was the US$223m acquisition of Castle Brands by Pernod Ricard.
The overall highest valued sale during the period was Black Nikka owner Asahi Group’s acquisition of Carlton & United Brewers for US$11.3bn.
The top five drinks deals accounted for 95.7% of the overall value during Q3 2019, and the sector saw a 3.5% increase compared to the last four-quarter average, with 120 deals compared to the previous average of 116 deals.
In value terms, Asia-Pacific led the activity with deals worth US$11.8bn.
The three-month period also saw Pernod Ricard purchase Texan whiskey producer Firestone & Robertson Distilling Co, and Italy’s Campari Group signed an agreement with Chevrillon Group to buy French firm Rhumantilles.