Despite inflationary pressures and declining consumer spending weighing on profitability, food companies continue to rely on mergers and acquisitions to maintain strategic positioning in popular growth areas such as clean-label ingredients and protein.

As of year-to-date, companies with healthier, high-protein, international, or sustainability-oriented positioning accounted for 67.7% of brand acquisition activity, according to Corporate Finance Associates (CFA), the highest proportion since 2019.

Mega-deals have been rare this year, but CFA notes that total transaction volume is in line with historical averages. Three of the largest deals this year involved the ingredients sector, including a $44.8 billion merger between McCormick and Unilever's food business, IFF's $4.3 billion sale of its food ingredients division, and Ingredion's $3.6 billion acquisition of Tate & Lyle.

Several deals this year highlight companies' efforts to enter less processed product segments and capitalize on demand for functional ingredients. Meanwhile, merger activity also emerged in the snack sector, notably with Utz being acquired by a German snack company for $2.9 billion in a privatization deal.

Below is an overview of some of the largest deals so far in 2026.