Food-Industry Acquisitions Up 7.7% in 2006

ELMWOOD PARK, N.J. -- Supermarket companies completed 21 mergers and acquisitions in 2006, according to a report released yesterday by The Food Institute here, up from just nine completed in 2005. The report, titled “Food Business Mergers & Acquisitions 2006,” noted that another 15 such supermarket deals were still pending at the start of 2007. In total, the food industry -- including supermarkets, restaurants and food processors -- underwent 348 mergers and acquisitions in 2006, up 7.7% over 2005 totals. Another 102 deals were pending at the start of 2007. Investment firms and banks accounted for 18.7% of all acquisitions, with 65 completed and 23 pending, the highest total since The Food Institute began tracking investment firms in 1998.