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Article: Food industry merger activity in 2003 on par with prior year.
- Article from:
- The Food Institute Report
- Article date:
- January 19, 2004
CopyrightCOPYRIGHT 2004 The Food Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Amid an economy still grappling with war and recession, the pace of food industry consolidation in 2003 remained fairly conservative compared to the late 1990s. Just slightly reversing four years of declining deals, The Food Institute tracked 416 mergers and acquisitions in the food sector, only three more deals than were recorded in 2002.
Supermarkets, among the most acquisitive segments, registered 35 transactions, 16 more than in 2002 and the most deals made since 1998. The anticipated sale of Kings Super Markets was shelved in August when Marks & Spencer pulled it abruptly off the block, and most of the activity consisted of various national chains trying to ...