2026年一季度餐饮CPG报告（英）2026

Food & BeverageCPG Report PE trends and investment strategies Contents PE activity3 Institutional Research Group Food & beverage CPG PE ecosystem market map18 Alex FrederickLead Research Analyst, Agri-Foodtechalex.frederick@pitchbook.com Food & beverage CPG PE investor map Caleb WilkinsData Analyst Q1 2026 timeline Food & beverage CPG PE deal summary pbinstitutionalresearch@pitchbook.com Published on May 7, 2026 Segment data Beverage CPG Shelf-stable food CPG Fresh-food CPG Tobacco & cannabis Health & wellness27 References28 PE activity PE activity in food & beverage consumer packaged goods (CPG) started 2026 on healthy footing withan estimated 144 deals, the fifth-highest quarterly count of the past nine years. Of the confirmed deals,54 were buyouts (31 platform and 23 add-on) and 47 were PE growth/expansion. Add-ons accountedfor 42.6% of confirmed Q1 buyouts, consistent with sponsors preferring to build scale inside existingplatforms rather than underwrite fresh platform creation at current entry multiples. Sponsors withexisting scaled platforms in baked goods, specialty protein, and specialty dairy have the best near-term deployment path via add-ons; for firms without that foothold, structured minority or preferredpositions alongside public food & beverage CPG balance sheets, as exemplified by the Keurig DrPepper (KDP)/JDE Peet’s financing template, offer better risk-adjusted economics than paying for newplatforms today. The exit environment remained the more telling data point. The Q1 2026 estimated exit value of $4.3billion across 27 exits annualizes to roughly $17 billion across 108 exits, a material step down from2025’s $36.4 billion across 138 exits and 2024’s $30.7 billion across 203 exits. This reinforces theread from public-company earnings calls that strategics are willing to buy, but increasingly only at theprice, structure, and timeline that suit corporate capital allocation, not sponsor exit timing; sponsorsare turning to continuation vehicles, secondary buyouts, and structured growth capital rather thancrystallizing returns at softer multiples. With exit value pacing to roughly half of 2025’s level, portfoliopressure to monetize will build through the year. We expect strategic M&A to reaccelerate in H2 as Q42025/Q1 2026 portfolio repositioning programs at KDP, Diageo, Hormel Foods, and Maple Leaf Foodsprogress through their divestiture and deleveraging cycles. Beverage CPG Source: PitchBook • Geography: Global • As of March 31, 2026 Source: PitchBook • Geography: Global • As of March 31, 2026 Source: PitchBook • Geography: Global • As of March 31, 2026 Source: PitchBook • Geography: Global • As of March 31, 2026 Nizar TarhuniExecutive Vice President of Research and Market Intelligence PitchBook providesactionable insights acrossthe global capital markets. Paul CondraSenior Director, Global Head of Private Markets Research James UlanDirector, Industry & Technology Research Additional research: H1 2025 AgrifoodFunds ReportDownload the reporthere Q4 2025 Food & BeverageBuyout and CorporateM&A Review Report created by: Alex FrederickLead Research Analyst, Agri-Foodtech Download the reporthere Caleb WilkinsData Analyst PitchBook Insightsis an online compendium of in-depth data, news, analysis, and perspectives thatshape the private capital markets. Adriana HansenGraphic Designer PitchBook subscribers enjoy exclusive access to a comprehensive suite of private market insights,including proprietary research, news, data, tools, and more on thePitchBook Platform. Josie DoanGraphic Designer COPYRIGHT © 2026 by PitchBook Data, Inc. All rights reserved. No part of this publication may be reproduced in any form or by anymeans—graphic, electronic, or mechanical, including photocopying, recording, taping, and information storage and retrieval systems—without the express written permission of PitchBook Data, Inc. Contents are based on information from sources believed to be reliable, butaccuracy and completeness cannot be guaranteed. Nothing herein should be construed as any past, current or future recommendation tobuy or sell any security or an offer to sell, or a solicitation of an offer to buy any security. This material does not purport to contain all of theinformation that a prospective investor may wish to consider and is not to be relied upon as such or used in substitution for the exercise ofindependent judgment. Learn more aboutPitchBook’s Institutional Research team. Clickherefor PitchBook’s report methodologies.