Led by $17.33bn acquisition of Swedish Match, Europe’s consumer industry saw a drop of 0.39% in cross border deal activity during Q2 2022, when compared to the last four-quarter average, according to GlobalData’s deals database.

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A total of 128 cross border deals worth $22.7bn were announced for the region during Q2 2022, against the last four-quarter average of 128.50 deals.

Of all the deal types, M&A saw most activity in Q2 2022 with 69 deals, representing a 53.9% share for the region.

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In second place was private equity with 32 deals, followed by venture financing deals with 27 transactions, respectively capturing a 25% and 21.1% share of the overall cross border deal activity for the quarter.

In terms of value of cross border deals, M&A was the leading category in Europe’s consumer industry with $19.62bn, while private equity and venture financing deals totalled $2.79bn and $307m, respectively.

Europe consumer industry cross border deals in Q2 2022: Top deals

The top five consumer cross border deals accounted for a 92.6% share of the overall value during Q2 2022.

The combined value of the top five cross border deals stood at $21.04bn, against the overall value of $22.7bn recorded for the quarter.

1) Philip Morris International $17.33bn acquisition deal with Swedish Match

2) The $1.29bn private equity of Associazione Calcio Milan by RedBird Capital Partners

3) Advent International $1.1bn private equity deal with Irca

4) The $1bn acquisition of Byredo by L’Oreal and Puig

5) Balchem $322.39m acquisition deal with Kappa Bioscience