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Increasingly, Acquisition Targets In Snack Industry Are Focused On BFY, Plant-Based

April 12, 2021: 12:00 AM EST
Private equity firms and strategic buyers are getting very picky about who they consider prime targets for a snack or food industry deal. Along with animal-free supply chains and low-carbon packaging, nutritious ingredients matter to health- and eco-conscious snack shoppers, so they matter to dealmakers. Whether a granola bar contains milk-derived whey or pea protein could mean the difference between an average multiple and one with "flex," says one investment banker. A significant example is Swedish beverage company Oatly’s oat milk product. It avoids the carbon emissions of factory farming, and it’s vegan – “the holy duo in a market growing secularly toward health and social consciousness.” The company’s IPO is reportedly heading toward a $5 billion valuation less than a year after a July funding round pegged it nearer $2 billion – an "extraordinary" level, said a partner at Blue Point Capital.
Brandon Zero , "Pea Protein Burgers and Healthy Pizza Reign, Whetting Appetite for M&A", Mergers and Acquisitions Reports (The Middle Market), April 12, 2021, © Middle Market Information LLC
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