Food & Beverage M&A Report: 1H 2025

This article is sponsored and written by CohnReznick.

The first half of 2025 showed that even in a cautious market, strategic dealmaking in manufacturing and distribution (M&D) is far from slowing down. With new tax incentives, evolving trade dynamics, and a shift toward larger, more targeted investments, the landscape is changing — and fast.

Here’s a quick look at what’s shaping the conversation:

  • Fewer deals, but bigger bets: Average deal size rose as investors focused on scale.
  • Food & beverage stood out with over $103 billion in capital deployed.
  • New tax rules under the OBBB Act could unlock major savings for manufacturers.
  • Tariff shifts are prompting supply chain reevaluations.
  • Private equity and venture capital remain active and adaptive.

To access the report, click here.

About CohnReznick

CohnReznick helps organizations optimize performance, manage risk, and maximize value through associated firms operating under the CohnReznick brand: CohnReznick LLP, a licensed CPA firm providing assurance services; and CohnReznick Advisory LLC (not a licensed firm) providing advisory and tax services. Together, CohnReznick provides leaders with deep industry knowledge and relationships, solutions to address clients’ unique business goals and risks, and insight on how emerging market forces can drive opportunity. With offices nationwide, CohnReznick serves organizations around the world as an independent member of Nexia. For more information, visit www.cohnreznick.com/manufacturing.

Contact:

Helana Robbins Huddleston, CPA, CIRA
Partner, Manufacturing and Distribution Industry – Co-Leader
Transaction Advisory Services
312.508.5813
helana.robbins@cohnreznick.com

Travis Butler
Partner, CohnReznick Advisory LLC
312.508.5821
Travis.Butler@CohnReznick.com