Azur Associates
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Azur.I: Azur Intelligence

 

At Azur Associates, one of our key goals is to provide our clients with the up-to-date, insightful information and analyses they need to make the best decisions for their business.  We have two seasoned team members dedicated solely to this task.  While, of course, we can’t release full studies that are confidential to our clients, we enjoy sharing some highlights as well as perspectives on more public situations in the industry.  This is Azur.I: Azur Intelligence.

 
 
 
 

Summary of M&A 2021 Activity

Below is our summary of 56 select M&A transactions in beverage alcohol during 2021. The three charts feature Wine, Spirits and E-commerce activity. The year was highlighted by a few key themes:

1) Large transformational deals (e.g. Gallo-Constellation select brands, Delicato-Coppola, Sycamore Partners-Ste Michelle, Bemberg Family Group-WX Brands)
2) Significant Private Equity Activity (Sycamore Partners, GI Partners, TSG Consumer Partners, many other active PE groups)
3) Portfolio rebalancing with exits (e.g. Constellation, Treasury Wine Estates)
4) Public Offerings (e.g. Vintage Wine Estates, Duckhorn Wine Company, Winc)
5) Significant eCommerce investment. About 30% of the deal activity was eCommerce related.

We believe all of these themes will continue throughout 2022.

Patrick DeLong