Axios Pro: Retail Deals
June 22, 2022
Axios Pro Exclusive Content

Hello, Retail readers.

1 big thing: Retail M&A's surprising first half

Data: Refinitiv; Chart: Kavya Beheraj/Axios
Data: Refinitiv; Chart: Kavya Beheraj/Axios

As investors wring their hands over the possibility of an economic downturn, retail M&A is surprisingly robust — even surpassing last year's total at this point. There's been about $29 billion in deal value transacted as we near 2022's halfway marker, according to data provided by Refinitiv, Richard writes.

Yes, but: So far, consumer products M&A is down 31.5% year over year with a total deal value of nearly $22 billion.

Why it matters: M&A remains a key tool companies use to refresh their brand portfolios and fortify their technology offerings, or alternatively to unload underperforming assets.

Of note: 2022 started off with a bark when Mars, which makes everything from Snickers candy bars to Pedigree pet food, agreed to buy DTC pet food brand Nom Nom for a reported $1 billion.

The intrigue: A number of potential deals are still pending, like the auctions of Walgreens' U.K. pharmacy banner Boots and value-oriented department store chain Kohl's — but some worry macro conditions could derail negotiations.

  • If both deals happen, it could lift total retail deal activity by more than $10 billion.

View archive