While momentum from deal volumes in the second half of 2024 is expected to continue into 2025, there remains uncertainty and a lingering “wait and see” approach while the impact of certain policies under President Donald Trump, like tariffs, are still unknown.

Sources also anticipate more megadeals this year as the US moves away from the antitrust environment that stopped deals, like the Kroger and Albertsons merger, for example.

In addition, new consumer trends favoring health-conscious snacking and weight-loss drugs like Ozempic could change the shape of M&A targets, exemplified in Ferrero Group’s recent acquisition of Power Crunch.

Brian Yue, Mergermarket’s New York-based consumer and retail reporter, joins Dealcast host Julie-Anna Needham to discuss the outlook for dealmaking in the sector this year, including:

• How the rise of weight-loss drugs like Ozempic could impact food & beverage deals
• How underlying consumer trends towards health & wellness will drive dealmaking
• How Trump’s policies could impact the international food & beverage supply chain and labor force

All this and more in this week’s Dealcast.