Food Sector M&A Is Heating Up, Gabelli Fund Manager Says: Watch For BellRing Brands, Campbell Soup
Food Sector M&A Is Heating Up, Gabelli Fund Manager Says: Watch For BellRing Brands, Campbell Soup
The food industry is ripe for consolidation now that the Federal Reserve is expected to cut interest rates in September.
隨着聯儲局預計將在九月份降低利率，食品行業現在正值整合之際。
According to Kevin Dreyer, co-CIO of Value at Gabelli Funds, lower rates generally stimulate M&A activity.
根據Value at Gabelli Funds的聯合首席投資總監Kevin Dreyer的說法，通常來說，利率降低會刺激併購活動。
"One thing to note is that, as rates come down, that tends to lead to an upswing in M&A activity," Dreyer told CNBC on Friday, Aug. 23. "Food stocks have had a tough year — the consumer stretch, inflation has been biting them — they've been struggling with volume growth, but snacking has been a good area within food."
「值得注意的一點是，隨着利率下降，這往往會帶來併購活動的增長，」 Dreyer在8月23日星期五告訴CNBC。「食品股今年表現艱難——消費者收入有限，通貨膨脹一直在侵蝕他們——他們一直在努力應對成交量增長問題，但零食部門一直是食品中的亮點。」
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Mars Inc.'s recent acquisition of Kellanova (NYSE:K) for $35.9 billion bodes well for the sector, Dreyer noted. The move reflects a strategic realignment, exemplifying how companies are looking to strengthen their positions in more profitable niches.
Mars Inc.最近以359億美元收購了Kellanova（紐交所代碼: K），Dreyer指出這對整個板塊都是一件好事。此舉反映了戰略重組，展示了公司如何尋求加強在更有利可圖的細分市場中的地位。
In October 2023, Kellanova, which has the global snacking segment, completed its separation from WK Kellogg Co (NYSE:KLG).
2023年10月，擁有全球零食業務板塊的Kellanova公司與Wk Kellogg Co（紐交所代碼: KLG）完成了分拆。
Read Also: Confectionery Giant Mars To Acquire Cheez It Parent Kellanova In $35.9B Deal
閱讀更多：糖果巨頭Mars將以359億美元收購Cheez It母公司Kellanova
Campbell Soup Company (NASDAQ:CPB) has also been active, recently acquiring Sovos Brands, Inc. (NASDAQ:SOVO), the maker of Rao's pasta sauce.
Campbell Soup Company（納斯達克代碼: CPB）也一直很活躍，最近收購了Sovos Brands, Inc.（納斯達克代碼: SOVO），後者是Rao's意大利麪醬的製造商。
Dreyer sees Campbell Soup as a company to watch, suggesting they could "end up following the 'Kellogg-Kellanova playbook'."
德雷爾認爲金寶湯是一家值得關注的公司，暗示他們可能會「按照『Kellogg-Kellanova遊戲規則』的方式發展」。
Campbell Soup's investor day is coming up in September. Expected the company to outline plans, which could further shape the landscape of the food sector.
金寶湯的投資者日將於九月舉行。預計公司將概述計劃，這可能進一步塑造食品行業的格局。
As for which companies are attractive takeover targets, Dreyer cited his favorite mid-cap food stock: BellRing Brands Inc. (NYSE:BRBR), maker of Premier Protein shakes.
至於哪些公司是有吸引力的收購目標，德雷爾提到了他最喜歡的中型食品股票：bellring brands公司 (NYSE:BRBR)，生產Premier Protein奶昔。
"Premier Proteins is growing mid-teens right now in an industry that is struggling to grow at all. We think they will continue to do great on their own, but somebody else may want to buy them," Dreyer said, highlighting the potential for BellRing Brands to be an attractive M&A target.
「Premier Protein目前在一個幾乎無法增長的行業中以兩位數的速度增長。我們認爲他們將繼續取得很好的成績，但其他人可能希望將他們買下來，」德雷爾說道，強調bellring brands成爲有吸引力的併購目標的潛力。
As M&A activity gains momentum, investors are advised to keep a close eye on potential deals that could reshape the industry landscape, providing new opportunities for growth and investment.
隨着併購活動的加速，投資者被建議密切關注可能重塑行業格局的交易，爲增長和投資提供新機會。
- Mars To Buy Kellanova For $36B: Deal Would Rank Snickers Maker Among 3 Largest Private Companies
- Mars以360億美元收購家樂氏：交易將使Snickers製造商成爲三大最大的私人公司之一。