Food and beverage M&A update: Q2 2018

Major U.S. indexes

The second quarter of 2018 (Q2 2018) showed strong performance for the broader U.S. equity market, as the S&P, DJIA and NASDAQ closed up 5.3 percent, 2.7 percent and 9.3 percent, respectively, for the quarter. For the 12 months ending June 29, the S&P, DJIA and NASDAQ closed up 12.2 percent, 13.7 percent and 22.3 percent, respectively.

Food and beverage relative performance

As of June 29, 2018, one of the five food and beverage segments exhibited increases on a trailing 12-month basis. Although the other segments decreased on a trailing 12-month basis, the majority of the segments experienced significant quarter-over-quarter growth from the first quarter of 2018 (Q1 2018) to Q2 2018. The performance increases were driven largely by recent successful “megadeals” and a revitalized industry consolidation landscape.

The agribusiness segment performed the best of the five food and beverage segments. This segment exhibited stock gains of 12.7 percent, leading the strong performance of the S&P 500 index’s 12.2 percent increase during the observed period.

Source: S&P Capital IQ and Baker Tilly Capital research (July 2018)

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