In Q2 of 2024, the number of closed deals in the food and beverage sector saw an increase of 63.5%, with a total of 103 deals compared to 63 in Q1. This uptick in deal volume can be attributed to interest rate stabilization, strong corporate balance sheets, and substantial dry powder from PE firms that must be deployed to satisfy LP agreements.Strategic acquirers remained the most active when compared to private equity-backed acquirers, with dairy and snack companies being a focus within the food sector, and wineries and breweries being the focus within the alcoholic beverage sector.Furthermore, PE firms continue to extend their hold periods in hopes of further market stabilization and increased valuations resulting in a greater number of private equity acquisitions as compared with exits.