M&A activity in the UK food sector increased with 24 deals completing worth a total of £597 million compared with 21 deals at £569 million in the last six months of 2007.
The year’s largest food deal was Grampian Country Food Group’s buy-out backed by Vion Group for £350 million. The acquisition of Cadbury’s own-label confectionery arm Monkhill by Tangerine dream was also one of the biggest with a price tag of £58 million.
Earlier this year Tyrrels Potato Chips was bought by Langholm Capital Partners for £40 million.
PKF say further consolidation is expected in the sector as smaller companies run into supply chain and cash flow problems and become targets.