2H 2022 Deal Hound M&A Report

Food is no joke. Everybody, everything, has to eat. In 2022, food production was in the spotlight. Food insecurity is real. The Colorado River hit a low mark, while 80% of that water was dedicated to agricultural production – food – across the American West. The war in Ukraine threatened a global food crisis. Eggs, a common source of pet and human protein, rose in price as grocery shelves ran bare. And even as the world stared down a potential protein shortage, some 30% of meat cultivated in the United States is consumed by pets. If cats and dogs were their own country, they would rank fifth in the world in meat consumption. Some 70% of Americans live with a protein-gobbling pet.