Total Consumer industry cross border deals worth $19.8bn were announced globally for May 2022, with the Philip Morris International $17.33bn acquisition of Swedish Match being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 405.9% over the previous month of $3.91bn and a rise of 94.3% when compared with the last 12-month average of $10.18bn.

In terms of number of cross border deals, the sector saw a drop of 24.76% with 79 deals in May 2022 when compared to the last 12-month average of 105 deals.

In value terms, Europe led the activity with cross border deals worth $18.63bn in May 2022.

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Consumer industry cross border deals in May 2022: Top deals

The top five cross border deals accounted for 96.05% of the overall value during May 2022.

The combined value of the top five cross border deals stood at $19bn, against the overall value of $19.8bn recorded for the month.

The top five Consumer industry cross border deals of May 2022 tracked by GlobalData were:

1) Philip Morris International $17.33bn acquisition deal with Swedish Match

2) The $1bn acquisition of Byredo by L’Oreal and Puig

3) Hanaco Ventures Capital and Synthesis Capital $250m venture financing deal with Redefine Meat

4) The $241.25m acquisition of 20% stake in Inner Mongolia Mengniu Dairy (Group) by China Mengniu Dairy

5) Brookfield Asset Management $184.06m private equity deal with DigitalBridge Group