Economy

Megamergers Return to Food Industry in 1st Quarter Amid Pressure for Lower Prices

The trend was underscored by Sysco’s $29.1 billion acquisition of Jetro Restaurant Depot and McCormick’s $44.8 billion deal with Unilever Foods.
Megamergers Return to Food Industry in 1st Quarter Amid Pressure for Lower Prices
McCormick spices are displayed in San Anselmo, Calif., on March 28, 2023. Justin Sullivan/Getty Images
Panos Mourdoukoutas
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The first quarter of 2026 marked a renewed wave of megamergers in the food industry, as companies sought scale, efficiency, and synergies to navigate a more challenging global economic environment.

The return of large-scale consolidation reflects a broader shift in corporate strategy, as companies respond to persistent cost pressures, slower growth, and changing consumer behavior by pursuing size and operational leverage.

Back-to-Back Deals

The trend was highlighted by Sysco’s agreement to acquire Jetro Restaurant Depot for approximately $29.1 billion and by McCormick’s combination with Unilever Foods, valued at about $44.8 billion.
Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”