Total consumer industry M&A deals worth $2.67bn 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 82% over the previous quarter and a drop of 69.1% when compared with the last four-quarter average of $8.63bn.

Asia-Pacific held a 12.2% share of the global consumer industry M&A deal value that totalled $21.88bn in Q1 2021. With a 4.17% share and deals worth $912.73m, China was the top country in Asia-Pacific’s M&A deal value across consumer industry.

In terms of deal activity, Asia-Pacific recorded 128 deals during Q1 2021, marking a decrease of 28.5% over the previous quarter and a drop of 3.6% over the last four-quarter average. Japan recorded 30 deals during the quarter.

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

The top five consumer industry M&A deals accounted for 52.2% of the overall value during Q1 2021.

The combined value of the top five M&A deals stood at $1.39bn, against the overall value of $2.67bn recorded for the quarter.

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

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

2) The $397m acquisition of Beijing Wukesong Culture & Sports Centre by CIFI Holdings (Group)

3) Kumho Petrochemical’s $182m asset transaction with

4) The $174.18m acquisition of Sakai Ovex by Sakai Textile

5) GL Mountrose Investment Two’s acquisition of Hutchison Whampoa Guangzhou Baiyunshan Chinese MedicineLimited for $169m.