M&A expertise in our C&R market update (Q2 2025)

The third edition of the M&A sector expertise: Consumer Goods & Retail Market Update is now available. This publication provides an in-depth analysis of transactions in the second quarter of 2025 within the Consumer Goods & Retail (C&R) sector for the DACH region (Germany, Austria, Switzerland).

In our C&R sector update, we analyze the following topics:

• Market Overview: In Q2 2025, the C&R sector faced challenges due to global tariff disputes, a change in government in Germany, and geopolitical tensions. These factors led investors to adopt a cautious approach, focusing on strategic transactions that promise growth beyond the DACH region. Despite these hurdles, there's a shift towards larger value deals, indicating a preference for impactful transactions.
• M&A Activity: M&A activity in the C&R sector adapted to the challenging market conditions. The Retail sector saw smaller average deal values, suggesting targeted investments, while the Consumer Goods sector showed resilience. Investment strategies included leveraging private credit and focusing on proprietary deal sourcing and corporate carve-outs to navigate competitive pressures.
• Valuation Environment: In Q2 2025, the Consumer Goods sector experienced increased multiples, particularly in Electronics & Appliances and Food, Beverages & Tobacco. This indicates positive valuation trends in certain subsectors despite market challenges. Companies are adjusting their investment strategies to maximize value in a changing environment.

We would like to thank you for your interest in our C&R sector update.