Despite challenges such as inflation and reduced consumer spending impacting profits, food companies are turning to mergers and acquisitions to maintain a competitive edge in growing market segments like clean-label ingredients and protein.
According to Corporate Finance Associates, acquisitions in the better-for-you, high-protein, international, or sustainable categories accounted for 67.7% of branded acquisition activity this year, the highest percentage since 2019.source.
While there were few multibillion-dollar megadeals this year, the overall volume of transactions remained consistent with historical averages. Notable transactions included McCormick’s $44.8 billion merger with Unilever’s foods business, IFF’s $4.3 billion sale of its food ingredients segment, and Ingredion’s $3.6 billion acquisition of Tate & Lyle.
Many of the deals in 2026 reflect companies’ focus on expanding their offerings with less processed products and meeting the growing demand for functional ingredients. Snacking also saw some activity, such as Utz’s $2.9 billion sale to a Germany-based snack company.
Here are some of the major deals that shaped the food industry in 2026.