Europe’s consumer industry saw a drop of 20.93% in cross border deal activity during May 2022, when compared with the last 12-month average, led by Philip Morris International’s $17.33bn acquisition of Swedish Match, according to GlobalData’s deals database.

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A total of 34 consumer industry cross border deals worth $18.6bn were announced for the region in May 2022, against the 12-month average of 43 deals.

Of all the deal types, M&A saw most activity in May 2022 with 17 transactions, representing a 50% share for the region.

In second place was private equity with ten deals, followed by venture financing deals with seven transactions, respectively capturing a 29.4% and 20.6% share of the overall cross border deal activity for the month.

In terms of value of cross border deals, M&A was the leading category in Europe’s consumer industry with $18.37bn, while private equity and venture financing deals totalled $189.81m and $68.83m, respectively.

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

The top five consumer cross border deals accounted for 99.8% of the overall value during May 2022.

The combined value of the top five consumer cross border deals stood at $18.59bn, against the overall value of $18.6bn recorded for the month.

The top five consumer industry cross border deals of May 2022 tracked by GlobalData were:

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

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

3) Brookfield Asset Management $184.06m private equity deal with DigitalBridge Group

4) The $45m venture financing of Enzymaster Deutschland by C&D Emerging Industry Equity Investment,Carbonneutral Partnership,Hansoh Investment,Kangjun Capital,Probe Capital,Puhua Capital and YuanBio Venture Capital

5) The Friedkin Group $37.5m acquisition of 13% stake in Associazione Sportiva Roma