The US drinks industry saw a drop of 17.2% in overall deal activity during Q3 2020, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 48 deals worth $1.1bn were announced in Q3 2020, compared to the last four-quarter average of 58 deals.

M&A was the leading category in the quarter with 25 deals which accounted for 52.1% of all deals.

In second place was venture financing with 15 deals, followed by private equity with eight transactions, respectively accounting for 31.3% and 16.7% of overall deal activity in the country’s drinks industry during the quarter.

In terms of value of deals, private equity was the leading deal category in the US drinks industry with total deals worth $972.7m, while M&A and venture financing deals totalled $102.05m and $22m, respectively.

The US drinks industry deals in Q3 2020: Top deals

The top five drinks deals accounted for 63.2% of the overall value during Q3 2020.

The combined value of the top five drinks deals stood at $693m, against the overall value of $1.1bn recorded for the month.

The top five drinks industry deals of Q3 2020 tracked by GlobalData were:

1) Diageo’s $610m acquisition of Aviation Gin and Davos Brands

2) The $25m venture financing of Hint by GingerBread Capital, Medina Heights Capital Partners, Philippe Laffont and Springboard Growth Capital

3) Convivialite Ventures, Fat Mike and Pat McAfee’s $23m venture financing of Supplying Demand

4) The $22m private equity deal with Celsius Holdings by Boyu Capital Consultancy

5) Cambridge Companies SPG, Monogram Capital Partners and Powerplant Ventures’ venture financing of Vive Organic for $13m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.