Industry Reports

Published on: 05/30/2013
Merger & acquisition activity in the personal care sector followed a pattern similar to many other industries, with the number of transactions rising to a peak in 2007, then declining during the economic recession of 2008 and 2009. Since then, improved economic conditions and increased financial liquidity have resulted in investors targeting this industry once again. M&A activity rebounded substantially in 2010, and the industry has since posted year‐over‐year gains, with the number of transactions in the U.S. topping 100, a new record, in 2012.
Published on: 03/07/2013
Merger and acquisition activity in the pet and animal care industry remained strong in 2012 with 37 announced transactions involving U.S. targets. This activity level is consistent with the 37 and 39 announcements in 2011 and 2010, respectively. The high level of M&A activity is due to strong fundamentals in the overall M&A market as well as continued interest by both strategic buyers and private equity firms in the pet and animal care sector. We expect these market drivers to continue, which should make 2013 another good year for M&A in the pet & animal care sector.
Published on: 02/06/2013
Merger and acquisition activity in the Juvenile Products industry remained steady in 2012, as the sector continued to benefit from an increase in consumer spending and improvement in the economy. As the environment grew more optimistic, corporate buyers in the industry looked to strategic acquisitions for growth opportunities in the form of new products and brands, new target markets and expanded geographic territories. Private equity firms also continued their activity in the industry, making platform and add‐on acquisitions of companies with strong brands and innovative products.
Published on: 01/03/2013
The recreational products industry lends itself to an active environment for mergers and acquisitions. Many of the industry’s product categories feature a few notable firms. At the same time, middle‐market companies account for the bulk of industry revenues, and the industry is highly fragmented and competitive. Start‐ups are also fairly common, as demand for product innovations and appealing niche brands develops.
Published on: 09/30/2012
The Juvenile Products industry has been enjoying a healthy level of M&A activity, with acquirers seeking to build product offerings, capture market share and secure new brands via acquisitions. While both corporate and private equity buyers are active in the space, we note the plethora of private equity groups that are targeting consumer products companies, including those focusing on juvenile products. 
Published on: 09/25/2012
The natural & organic products industry continues to be highly fragmented and rife with new product introductions and innovations by small companies which are often in need of growth capital, and are frequently turning to private equity buyers for such funding. Strong growth rates, profitable product categories and professional management teams have made the natural & organic products industry an attractive addition to many investment portfolios.
Published on: 09/01/2012
Merger and acquisition activity in the pet & animal care industry remained level in the first half of 2012 compared to the same period last year, as the economy continued its modest recovery and M&A activity stabilized across the general economy. Activity in 2010 and 2011 has noticeably increased from levels in prior years. This increase reflects post-recession market improvements, including renewed interest among both corporate and private equity buyers, as well as better financing conditions for M&A transactions. 
Published on: 08/20/2012
Despite years of consolidation and M&A activity, the packaging industry remains highly fragmented, with plenty of room for additional combinations, particularly in the higher growth segments of the industry. For instance, plastic packaging has seen a recent uptick in activity, as has labels. Increased demand from customers who want to work with fewer packaging suppliers that can provide a broader range of products and support services will continue to drive the need for industry mergers & acquisitions.
Published on: 08/10/2012
M&A activity in the recreational products industry followed a similar pattern to many other industries, with the number of transactions accelerating through 2007, then declining during the economic recession of 2008 and 2009. Activity rebounded substantially in 2010, and the industry remained increasingly active in 2011 and year‐to‐ date 2012. There currently is elevated interest from both strategic and financial buyers in the industry.
Published on: 05/10/2012
The packaging industry continued to see an uptick in merger and acquisition activity in 2011, with the number of transactions exceeding 85, a figure that represents a 30% increase over the number of deals recorded by the industry in 2010.