Focus: Mergers and acquisitions in the wine trade

In one sense, the unusually high levels of mergers and acquisitions (M&A) in the drinks trade right now are a worrying sign. The number of deals occurring is a direct reflection of the often-mentioned pressures currently bearing down on the industry as it faces one of the most challenging periods in its history. For companies, as Steve Nemeth, director of consumer M&A at investment bank Cavendish, puts it: “Growth, consumer behaviour and the economics of operating a drinks business are uniquely all changing simultaneously.”