I would love to join a group that works with consumer goods, specifically beverages (alcoholic and nonalcoholic).
One of the areas that I have always found interesting is how beverage companies tend to consolidate.I would love to work on M&A deals involving big companies (Coca cola, Keurig Dr Pepper, AB inBev, Constellation brands…) or small regional companies.
How could I find the teams who work in these type of deals, or are there no groups that specialize on this particular industry?
No.
Sorry but from ANA1 -> VP you're covering numerous sub-verticals within C&R as they're mostly a generalist group. Obviously the focus narrows the further up the chain you go, but even at the top you're still going to be covering a handful of industries.
*Maybe* (still in reality no chance) at a BB with a lot of MDs covering very granular sub-verticals. But even then there's just not enough transactions/fees generated specifically in the Beverage space to warrant a bank paying an MD a $500k salary to only cover that space. It's economics.
Only office I can think of is Harris Williams Minneapolis, which only does food and beverage. But then you have to live In Minneapolis.
Isn't Chicago food and bev as well?
Harris Williams doesn’t have a Chicago office. You’re thinking of houlihan, who’s food and bev group sits there. Worth noting that HW doesn’t do any beverage deals, it’s all food.
Check out Demeter Group. They're legit and lowkey. I was across from them on a ~$600mm deal for a MF when I was at a BB.
Maybe try Rabobank? I know they do food related things
Rabobank is more food & agricultural space. Don't think they engage a lot with large consolidators in the beverage industry.
One way to find the players in an industry sub vertical is looking up "XYZ bank food and beverage investment banking report" or something like that. Above posters are mostly right, consumer teams will usually be generalist within the sector but often have F&B / F&A sub-verticals. Biggest MM players would be Houlihan Lokey (absolutely dominates MM F&B), Harris Williams, Baird, William Blair, and a handful of others. HL's consumer team is called "food & consumer" so I'd bet you'd get a good shot at doing F&B while in that group. I think most banks with consumer teams will do transactions in this space as well as a few boutiques. I can't comment much on non-MM groups in the industry but obviously BB and EB banks will do transactions in the space as well (someone else can comment on that).
As a side note, any MD / group that focuses on F&B will not just do beverage or CPG. Most will work across the entire space (or large parts of it). This will include: CPG (Nestle, Kellogg, General Mills, etc.), non-alcoholic beverages, agribusiness, protein processing, distribution, ingredients & flavors, eggs & dairy, private-label manufacturing, baked goods, food tech, pet, vitamins & supplements, and a few others. So not all of your deals will be in the beverages space per your post. There are some PE groups that are more food-focused, but that's a whole different conversation in itself.
Think your answer is well covered here, but as a heads up C&R groups are fairly high demand to recruit to since the products are interesting, tangible, and familiar. F&B is a pretty small part of C&R, just happens to be the most familiar names for most people.
You typically won't be placed into a group until many months after you sign an SA offer so there is no guarantee you'll get C&R at any given bank even if you network heavily
Check out Arlington capital Advisors. They only work on small sell side deals but many have major players on the buy side of deals.
Ut et ea expedita incidunt rem ab. Et et enim suscipit nam placeat. Possimus voluptatem deserunt modi magnam. Aut illo laudantium voluptas laboriosam.
Excepturi sapiente voluptas harum saepe est laboriosam. Ullam reiciendis optio unde in magni qui. Provident eos et facere quo enim. Fugit itaque sed aut ipsa sequi atque explicabo. Facilis autem suscipit quibusdam omnis non non nam ad.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...