LOOKING BACK AND BUILDING FOR THE FUTURE

Six years ago this month the Chicagoland Food & Beverage Network launched with an introductory event at Kendall College where we welcomed over 200 guests and featured food from neighborhoods across Chicagoland. We heard from speakers including then Deputy Mayor Steve Koch and Palermo’s Pizza CEO Giacomo Falluca about the importance of coming together as a more unified and connected food & beverage industry. Well, CFBN continues to thrive and grow - just like the local food & beverage eco-system – and we are proud to be a part of it.?

Many things have changed since then, but the need to work together as an industry continues.?Chicagoland remains a great place to launch, build and run a food & beverage business, but this is something that cannot be taken for granted. Chicago's food and beverage industry has been a center for mergers and acquisitions (M&A) in recent years, with numerous deals being made in the space. The city's diverse culinary scene, vibrant restaurant industry, and high consumer demand for quality food and drinks have made it an attractive market for investors and companies looking to expand their presence. M&A activities in the food and beverage industry in Chicago have focused on acquisition of innovative startups and emerging brands.

You can see this up close and personal in a few weeks by joining our partners at World Business Chicago for?Chicago Venture Summit: Future of Food on May 3-4th.?

As companies continually seek to expand their portfolios, reach new markets, and capitalize on the popularity of specific food trends, private equity firms have been increasingly active in the space, with many investing in established businesses and helping them to grow through acquisitions. Overall, the M&A activity in Chicago's food and beverage industry is bustling as companies seek to stay competitive and capitalize on the growing demand for new kinds of food and drinks.

CFBN Member?CohnReznick?weighed in on the topic with their?Q1 Manufacturing Mergers & Acquisitions Report,?finding that Strategic buyers were the most active investors in the food and beverage space in Q1 2023. In CohnReznick’s Q1 manufacturing mergers and acquisitions report, released April 13th, they review new strategics and investors entering the space, shifting consumer preferences, and new product offerings on the horizon.

We’re looking forward to sharing additional information about Chicagoland and M&A during our upcoming events, including:

• May?17th?“Reinventing Big Food: A Fireside Chat with Tapan Shah” of Mondelez International
• June 13th?“The Changing Landscape of M&A” featuring phenomenal panelists from CohnReznick, Perkins Coie, and more.?

Alan Reed

Executive Director, Chicagoland Food & Beverage Network