Food Retailers Increased Merger Activity in ’07

ELMWOOD PARK, N.J. — Food industry retailers completed 79 acquisitions in 2007, up from 69 in 2006 and just 24 in 2005, according to data released yesterday by Food Institute, based here. In the food industry overall, 2007 saw a total of 413 transactions, plus an additional 60 that were agreed upon but had not yet closed by year-end, compared with 392 deals completed in 2006 and another 59 that were pending at the end of that year. Food processors were the most active, closing 94 deals, followed by investment firms and banks, which completed 89 food company acquisitions. Restaurant companies closed 57 merger deals in 2007. The data was from Food Institute’s Food Business Mergers & Acquisitions publication.

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