North America’s consumer industry saw a drop of 32.67% in deal activity during May 2022, when compared with the last 12-month average, led by Dubilier & Rice,Clayton and TPG $3.29bn private equity deal for 75.85% stake with Covetrus, according to GlobalData’s deals database.

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A total of 101 consumer industry deals worth $4.8bn were announced for the region in May 2022, against the 12-month average of 150 deals.

Of all the deal types, M&A saw most activity in May 2022 with 52 transactions, representing a 51.5% share for the region.

In second place was venture financing with 40 deals, followed by private equity deals with nine transactions, respectively capturing a 39.6% and 8.9% share of the overall deal activity for the month.

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In terms of value of deals, private equity was the leading category in North America’s consumer industry with $3.57bn, while M&A and venture financing deals totalled $895m and $325.25m, respectively.

North America consumer industry deals in May 2022: Top deals

The top five consumer deals accounted for 84.7% of the overall value during May 2022.

The combined value of the top five consumer deals stood at $4.05bn, against the overall value of $4.8bn recorded for the month.

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

1) Dubilier & Rice,Clayton and TPG $3.29bn private equity deal for 75.85% stake with Covetrus

2) The $263m private equity of 25% stake in Funko by Bob Iger,eBay,Rich Paul and The Chernin Group

3) J&J Snack Foods $222m acquisition deal for Dippin’? Dots

4) The $140m acquisition of Bio Lab Naturals by Limitless

5) Steelcase $137m acquisition deal with HALCON