Transactions included Heineken’s acquisition of its remaining stake in Brixton Brewery; The British Honey Company’s acquisition of Union Distillers; and Diageo’s investment in US-based Far West Spirits, a hard seltzer brand.
Alcoholic drinks accounted for 21% of Q1 deals.
Interest in healthy eating and meat alternatives is not waning. Deals included minority investments in meat-free protein producer Better Nature, VFC (Vegan Fried Chicken) Foods, and synthetic meat company Meatable.
Deli and plant-based businesses accounted for 9.7% of activity
To cater for a nation of indulgent animal owners, natural dog treat firm Assisi Pet Care (Hollings) acquired Town & Country Petfoods. Meanwhile, Waterland Private Equity backed United Petfood Producers.
As dog ownership in the UK soared, acquisitions in the high margin pet food sector remained strong, accounting for 6.4% of deals.
Deals were dominated by ‘healthier’ alternatives such as HIPPEAS (chickpea based), Proper Snacks (premium popcorn), Fudco (nuts and spices) and We Love Purely (plantain-based crisps).
The wellbeing trend continued to infiltrate crisps and snacks, which accounted for 6.4% of activity.