In Q3 2024, 74 transactions were announced in the food and beverage space, a 10% decline in deal volume compared to the previous quarter. However, the number of Q3 2024 transactions increased by 28% versus Q3 2023. For the trailing 12 months (TTM) period ending September 30, 2024, 288 deals were announced in the space, representing a 2% increase from the prior period. This marks the first sign of positive year-over-year growth since March 2022.
The decline in Q3 2024 food and beverage M&A activity represents the first quarterly decrease since Q3 2023, possibly caused by economic uncertainty stemming from the upcoming US election and escalating geopolitical conflicts.