Top 10 Largest Food and Beverage Mergers in the Last 20 Years

The food and beverage industry has seen some of the most significant mergers and acquisitions over the past two decades. These deals have reshaped the industry, consolidating power among a few key players and driving global market growth.

Let’s explore the top ten largest food and beverage mergers by value in the last 20 years. These mergers not only reflect the immense scale of the industry but also highlight the strategic maneuvers companies have made to maintain dominance in an increasingly competitive market.

1. H.J. Heinz Co Acquires Kraft Foods Group Inc — $46 Billion

Backed by Warren Buffett’s Berkshire Hathaway, H.J. Heinz Co merged with Kraft Foods Group Inc in a $46 billion deal. The merger, which occurred in July 2015, created the third-largest food and beverage company in North America, Kraft Heinz, with expected annual revenue of $28 billion.

2. Mars Buys Kellanova — $36 Billion

In one of the most recent and largest food and beverage mergers, Mars acquired Pringles owner Kellanova for nearly $36 billion. This acquisition, which took place in August 2024, significantly expanded Mars’s portfolio into the snacks sector.

3. Kraft Foods Acquires Cadbury — $19.6 Billion

In one of the most talked-about food and beverage mergers, Kraft Foods purchased British candy maker Cadbury for $19.6 billion in January 2010. This acquisition created the world’s biggest confectioner and marked the largest European food and beverage deal on record.

4. Mars Acquires Wm Wrigley Jr Co. — $23 Billion

In April 2008, Mars created the world’s largest confectionery company by acquiring Wm Wrigley Jr Co. The deal, worth $23 billion, allowed Mars to control 14.4 percent of the global confectionery market.

5. Keurig Green Mountain and Dr Pepper Snapple Group — $21 Billion

Keurig Green Mountain combined forces with Dr Pepper Snapple Group in a $21 billion deal in January 2018. This merger led to the formation of Keurig Dr Pepper, a major player in the North American drinks market.

6. Nestlé Buys Pfizer’s Infant Nutrition Business — $11.85 Billion

In April 2012, Nestlé expanded its footprint in the baby food market by purchasing Pfizer’s infant nutrition business for $11.85 billion. This deal allowed Nestlé to solidify its position as a leader in the infant nutrition sector.

7. General Mills Buys Blue Buffalo Pet Products — $8 Billion

Seeking to counter declining sales in processed foods, General Mills acquired Blue Buffalo Pet Products for nearly $8 billion in February 2018. This strategic move allowed General Mills to tap into the fast-growing pet food market.

8. Kraft Foods Buys Danone’s Biscuit Business — $7.2 Billion

In November 2007, Kraft Foods expanded its reach in Europe and emerging markets by acquiring Group Danone’s global biscuit business for $7.2 billion. This acquisition included the popular LU family of brands.

9. Nestlé Sells US Confectionery Business to Ferrero — $2.8 Billion

Nestlé sold its US confectionery business, including iconic brands like Butterfinger and Baby Ruth, to Ferrero for $2.8 billion in January 2018. This sale allowed Nestlé to focus on its more profitable segments.

10. Campbell Soup Acquires Sovos Brands — $2.33 Billion

In March 2024, Campbell Soup completed the acquisition of Sovos Brands, the parent company of Rao’s Homemade, in a $2.33 billion deal. This acquisition expanded Campbell’s presence in the premium pasta sauce market.