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Article: Global food giants take cautious line on deals and focus on core activities.(news)
- Article from:
- Grocer
- Article date:
- July 28, 2007
- Author:
CopyrightCOPYRIGHT 2007 William Reed Ltd. 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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Global fmcg companies have switched their attentions from mega acquisitions to smaller deals that strengthen core activities, exclusive research for The Grocer reveals.
Last year's merger and acquisition activity was characterised by a new level of caution, according to The OC&C Global Giants Index, which ranks the world's top 50 fmcg companies.
Almost half the top 20 deals were less than $200m each. The total figure was distorted by two acquisitions that dwarfed the rest: Japan Tobacco's purchase of Gallaher and Johnson & Johnson's of Pfizer Consumer Healthcare, which accounted for 75% of total acquisitions by value.
"The value of the 41 deals ...
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