Insights
September 2025 Market Update: Food, Beverage and Agribusiness
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Deal Activity Eases, Strategic Momentum Persists
There were 28 announced transactions (US targets) in September, down 9% from August, marking a modest pullback following several active months. Strategic buyers accounted for roughly 80% of activity, underscoring ongoing corporate appetite for consolidation, category adjacency and channel diversification. Financial sponsors remained active through add-on investments in value-added ingredients, functional food, and specialty distribution, where scale, formulation expertise and customer stickiness continue to support premium valuations. Sectors leading the way included packaged foods (36%) and restaurants (25%), both supported by durable consumer demand for convenience and every day offerings.

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