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08 August 2023

Daily Newsletter

Top 10 M&A financial advisers in the retail sector for H1 2023 revealed

Jefferies and Rothschild & Co were the top M&A advisers in GlobalData’s league table.

Jefferies and Rothschild & Co were the top mergers and acquisitions (M&A) financial advisers in the retail sector in H1 2023 by value and volume, respectively, according to GlobalData’s latest league table.

The leading data and analytics company ranks advisers by the value and volume of M&A deals on which they advised.

According to its financial deals database, Jefferies achieved its leading position in terms of value by advising on $5.3bn worth of deals. Rothschild & Co led in terms of volume by advising on a total of seven deals.

“Jefferies was the top adviser by value in H1 2022 and was able to retain its leadership position by this metric in H1 2023 as well,” said GlobalData lead analyst Aurojyoti Bose. “It also registered a four-fold jump by value in H1 2023 compared to H1 2022.

“Similarly, Rothschild & Co was the top adviser by volume in H1 2022 and was able to retain its leadership position by this metric in H1 2023 as well. However, had to see a decline in deals volume in H1 2023 compared to H1 2022.”

“Meanwhile, PwC witnessed its ranking by volume improve from fifth position in H1 2022 to the top position by this metric in H1 2023.”

Goldman Sachs came second in terms of value, by advising on $4.6bn worth of deals, followed by JP Morgan with $4.2bn, Barclays with $4bn and RBC Capital Markets with $2.1bn.

Runners-up in terms of volume were Performance Brokerage Services with seven deals, Ernst & Young with five deals, Jefferies with four deals and KPMG with four deals.

GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.

To ensure further robustness to the data, the company also seeks submissions of deals from leading advisers.

APAC duty-free market expected to grow fastest, fueled by rising income levels and international travelers

Per latest GlobalData estimates, the global duty-free market retailing market was valued at $49 billion in 2022, its highest level ever as it bounced back from the pandemic impact, and is expected to grow at a CAGR of more than 28% during the period 2020-2026, driven by government initiatives, rising passenger numbers, major global events (for instance global sporting tournaments) and the renewed popularity of cruise trips. Infrastructure investments will also play an important role, particularly airport expansion and space refurbishment, and investments in arrivals duty-free formats. That said, growth will be held in check in the years ahead by the permanent erosion of disposable income from the heightened cost of living impacting demand for air travel. The duty-free market in the APAC region showed strong growth in 2022, as traveler numbers surged in response to the lifting of travel restrictions. To cater for rising demand in the region, many airports in the APAC area are expanding and modernizing, giving duty-free stores greater space that will allow them to attract more customers. The future of APAC duty-free retail is also being shaped by the adoption of technology. The rise in online shopping, mobile payments, and digital marketing are giving businesses new ways to connect with customers and improve the shopping experience.