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Consumer products M&A survey 2011

Delivering growth beyond the recovery

The Deloitte Consumer products M&A survey

Background

This second biannual survey captures the insights provided by CEOs, CFOs and M&A directors of leading European Consumer Products companies and provides a valuable forward looking view across a range of issues including M&A outlook, future profitability levels and actions to address the changing patterns in consumer behaviour.

This edition includes a broader look at the consumer products M&A market and analysis across the key sub sectors.

Key findings

  • Consumers continue to brace themselves for the full impact of the austerity measures.
  • From a UK perspective, the Office of Budget Responsibility has already clearly flagged an anticipated shift away from consumer spending as a driver for UK growth, replaced by export and business investment.
  • Consumer Product companies have spent much of 2009 and 2010 in cash conservation mode, however their focus now appears to have shifted towards implementing steps to deliver their desired strategic positioning in key markets.
  • As well as the search for targets in high growth markets, our survey highlighted an expectation of ongoing sector consolidation to deliver economies of scale and the potential for distress driven deals.
  • General valuation levels for consumer product companies appear to have recovered significantly from their low point in the second quarter of 2009, but we would expect to see significant variations in valuation levels where businesses are able to demonstrate a strongly differentiated brand or product proposition and a clear growth story.

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Download  Consumer products M&A survey 2011 (PDF)

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