Consumer Goods & Retail M&A – Q3 2024

The Consumer team is pleased to meet at the bi-annual CFI conference in Mumbai, from 13th to 15th of November. This large conference will reinforce our strength at a global level to meet our clients’ needs. 

The market is evolving rapidly, with big companies facing significant challenges and a need to integrate fast-growing firms. Consequently, our operations are increasingly cross-border.

This third quarter has been marked by several notable events: 

• First, there has been a rise in M&A transactions worldwide, reaching levels comparable to those of Q3 2022. Asia is gaining market share in transaction volume, relative to the Americas and Europe.
• Food and Leisure remain, by far, the two largest and most dynamic subsectors within the Consumer Goods and Retail. Additionally, two key events have emerged: a valuation decline in the Cosmetics subsector due to a slowdown in China’s Consumer market, and a rebound in the Textile & Apparel subsector, where the average EBITDA multiple has increased over the past six months from 8x to 10x.
• Finally, the upcoming U.S. election and the issue of the ongoing conflict in Ukraine have an impact on the financial markets, which is affecting activity across most Consumer Goods & Retail subsectors.