The revival of retail deals – Axios
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Illustration: Aïda Amer/Axios
Before the pandemic, the retail sector was more known for bankruptcies than for blockbuster M&A deals or high-profile leveraged buyouts.
Why it matters: The pandemic may have decimated retail foot traffic, but ecommerce is alive and well. And amid an overall shift in consumer spending, to goods from services, retail sales have skyrocketed to new heights this year.
Bankers say to stay tuned for more turbo-charged retail deal volume in 2022.
By the numbers: Private equity activity in consumer retail totaled about $13.7 billion during the first three quarters of 2021, which outstrips each of the last three full years.
The big picture: "One of the dynamics that is absolutely impacting M&A activity is one of the most active IPO markets in my history of covering the sector," Adam Rifkin, senior managing director at Guggenheim Securities, tells Axios.
What's next: The need for supply chain resiliency could drive M&A, especially among middle market companies pushing for scale, says Sean Daugherty, senior managing director at Guggenheim.
The bottom line: "We believe 2022 should eclipse 2021," Shiffman says.
Join the waitlist for Axios Pro, including Richard's daily Retail Deals newsletter, here.
Editor’s note: This story has been corrected to attribute data to Bain & Co. (not Bain Capital).
Illustration: Sarah Grillo/Axios
2021 isn't quite over yet, but it's already been a record-shattering, eviscerating, gralloching year for mergers and acquisitions.
Driving the news: Global M&A topped $5.5 trillion through last Thursday, including more than $2.4 trillion for U.S. targets, per Refinitiv.
Illustration: Annelise Capossela/Axios
Investment firm GSV is working on a bid to buy Forbes Media at a $620 million valuation as an alternative to Forbes' announced SPAC merger, Axios has learned.
Why it matters: BuzzFeed's public listing last week added to growing skepticism about the SPAC market for media companies. Its shares are down roughly 40% from its opening price, and 94% of investors redeemed their stock following the merger news.
SUVs' share of the global auto market reached fresh records this year, growth that counters the climate benefits of the growing vehicle electrification, the International Energy Agency said.
The big picture: "In 2021, SUVs are on course to account for more than 45% of global car sales — setting a new record in terms of both volume and market share," IEA analysts write in a new post.
