2026并购展望报告：并购、分拆、合资中的品牌价值创造 (英文版)

In 1988,Interbrandpioneeredtheprocess of assigning a monetaryvaluation to the previously intangibleasset of brand – a program of workthatfundamentally transformed how We know what it takesto accomplish M&Aactivity that stands Whether economic conditions areturbulent or favorable, top brands areconstantly seeking expansion and If you’re questioning or preparing for aMerger or Acquisition, Interbrand is hereto support with the insights and clarity 2026 is shaping up tobe a bumper year forM&A Activity. Building on increased momentumin 2025, expert analystsis arepredicting a much-needed bump in Recovery is long overdue. Over the last three years,global M&A as a percentage of GDP has sat at anear 30-year low1. However, ongoing globalconcerns around U.S.-based tariffs and their impact alike—creating a market ripe with opportunity tocreate outsized growth. In fact, deals done in arecession are often the most successful long-term3.Spin-offs in particular create opportunity forcompanies to uniquely address new problems andaudiences by excelling in one industry, as opposed As we closed out 2025, there was a sharp increasein M&A and Spin-off Activity. Across the 4thquarter, deal volume increased c.36% and total This significant global volatility has forcedbusinesses to reassess their structure, oftenresulting in streamlining portfolios and divestingnonessential businesses. While this may seem an In this report, we explore how brands can use M&Aactivity to build brand equity, resulting in bothimmediate and long-term gains. Opportunity is stillabound for those who know how to uncover it. value increasing c.159% - driven by majortransactions and high value strategic deals,including significant announcements around With renewedoptimism comesincreased risk:It is estimated 75%of M&A deals fail. 40,000 M&A deals across theglobe over the last 40years, approximatelythree in every four fail. Why is a business activitythat is widely consideredto be a growth mechanisminstead resulting in These common failures, however,should not be viewed as adeterrent to exploring a mergeror acquisition—rather, creating A few widely observed causes: An unclear business and brand →Lack of a clear, strategic planfor becoming market-ready and wasted time? Not considering the risks tocurrent key revenue streams Overlooking internal culturalintegration that could lead Failure to identify brand equities Limited evaluation andconsideration of customer 1 Mergers occur when two companies,often similar in size and scale, combine In a merger, both companies legally dissolve, and assetsand liabilities of the former companies are combined.Shareholders exchange shares of the existing entities What does this mean for the brand? A merger can build brand equity in two ways: eitherthrough a new, distinct brand (New Equity), or bybringing together two brands’ existing value(Consolidated Equity).Whether two companies mergeto create one stronger, unified brand or choose toleverage existing brand equity, company cultures and 2 An acquisition occurs when one companypurchases a controlling interest in another Typically, this happens when a larger companypurchases a smaller entity. The ownership and controlof the target firm passes to the acquiring firm, with theshareholders of the target firm being compensated in What does this mean for the brand? When an acquisition occurs, the goal is always tocreate new brand equity. This can be accomplishedin several ways, relying on either the brand acquiringanother or the brand being acquired. The acquiringbrand may determine that its own brand equity issuperior when acquiring another organization for itsofferings or geographical reach(Dominant Equity), 3Spin-offs A spin-off occurs when a parent companyseparates a part of its business intoa separate entity, allowing increased Typically, a division, product line or subsidiary isspunoutof the parent company to form an independent orstandalone commercial entity. This new company has itsown management, operations and financial statements. What does this mean for the brand? Spin-offs are unique in the sense that the goalis to create equity for one or more entirely neworganizations(New Equity).However, in many cases,the new organization retains some elements of thecompany it spun off from, benefitting from long-heldequity that can help establish its own reputation Joint Ventures4 A joint venture (JV) is a businessarrangement in which two or moreindependent entities collaborate on aspecific business activity, sharing Partners contribute capital, assets, technology orexpertise to address a specific objective or marketopportunity (like developing a product, building What does this mean for the brand? The role that brand plays in a Joint Venture can varysignificantly depending on the structure of thearrangement and perceived return. All forms of equity We have more thanthreedecadesof experiencedelivering the brandstrategy and execution ofthe wor