Total consumer industry cross border M&A deals worth $731.5m were announced in Asia-Pacific in Q1 2021, led by Essity’s $468.8m acquisition of Asaleo Care, according to GlobalData’s deals database.

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The value marked a decrease of 92.1% over the previous quarter and a drop of 86.6% when compared with the last four-quarter average of $5.46bn.

Asia-Pacific held a 7.53% share of the global consumer industry cross border M&A deal value that totalled $9.72bn in Q1 2021. With a 4.91% share and deals worth $476.8m, Australia was the top country in Asia-Pacific’s cross border M&A deal value across consumer industry.

In terms of deal activity, Asia-Pacific recorded 26 cross border deals during Q1 2021, marking a decrease of 31.58% over the previous quarter and a drop of 16.80% over the last four-quarter average. Australia recorded eight deals during the quarter.

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Asia-Pacific consumer industry cross border M&A deals in Q1 2021: Top deals

The top five consumer industry cross border M&A deals accounted for 76.7% of the overall value during Q1 2021.

The combined value of the top five cross border M&A deals stood at $560.91m, against the overall value of $731.53m recorded for the quarter.

The top five consumer industry cross border deals of Q1 2021 tracked by GlobalData were:

1) Essity’s $468.8m acquisition of Asaleo Care

2) The $66.2m asset transaction with Junglee Games IndiaLtd. by Flutter Entertainment

3) XOX (Hong Kong)’s $10.96m acquisition of Cheetah Holdings

4) The $7.82m acquisition of Pacific Hemp Co by Hemp for Health

5) Arts Optical International Holdings’ acquisition of Stepper & Colors Opti Technology (Jiangsu)Limited for $7.14m.