Total food service industry deals for March 2019 worth $124.22m were announced globally, according to GlobalData’s deals database.
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The value marked an increase of 24.7% over the previous month and a drop of 92.7% when compared with the last 12-month average of $1.69bn.
In terms of number of deals, the sector saw a rise of 47.8% over the last 12-month average with 34 deals against the average of 23 deals.
In value terms, Europe led the activity with deals worth $60.69m.
Food service industry deals in March 2019: Top deals
The top five food service deals accounted for 79.6% of the overall value during March 2019.
The combined value of the top five food service deals stood at $98.92m, against the overall value of $124.22m recorded for the month. The top announced food service deal tracked by GlobalData in March 2019 was Tiger Global Management’s $56.72m private equity deal with Flaschenpost.
In second place was the $15.89m venture financing of Faasos Food Services by Evolvence India Fund II, Lightbox Ventures and Sequoia Capital India and in third place was Hai Di Lao Holdings’ $14.31m acquisition of Beijing Youdingyou Catering.
The $10m acquisition of Dean & DeLuca Cafe Japan by Welcome and Cleveland Avenue’s venture financing of FoodBoss for $2m held fourth and fifth positions, respectively.
This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.
GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.
More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.