Mergers and acquisitions in the drinks industry during the summer (from July to September 2019) were valued at more than US$12 billion, according to research from analyst firm Global Data.
That figure was 328% higher than the total for the previous quarter.
According to the study, Asahi Group’s $11.3 billion acquisition of Carlton & United Brewers was the largest.
In spirits, the largest acquisition was Heaven Hill Brand’s acquisition of Black Velvet Distilling for $266 million. This was closely followed by Pernod Ricard’s acquisition of alcohol manufacturer and marketer Castle Brands for $223 million.