Table 4: U.S. food & beverage M&A activity for transactions closed1
Aggregate transaction value and number of deals
$14,000
$12,000
$10,000
$8,000
$6,000
$4,000
$2,000
$0
100
80
60
40
20
0
Q1-2019
Q2-2019
Q3-2019
Q4-2019
Q1-2020
Q2-2020
Q3-2020
Q4-2020
Q1-2021
Q2-2021
Q3-2021
Q4-2021
Q1-2022
Q2-2022
Q3-2022
Q4-2022
Q1-2023
Q2-2023
Q3-2023
Q4-2023
Aggregate transaction value ($MM)
Number of deals
1Source: S&P Capital IQ and Baker Tilly Capital research (December 2023)
Note: Only includes food and beverage deals where the target was based in the United States.