Better-for-You Foods Are a Hot Space for M&A: What Does It Take to Get Acquired?
The rapidly expanding Better-for-You category is fueling M&A activity across the food and beverage landscape, from mega deals among major players to strategic acquisitions in the middle market.
Better-for-You Is Booming
- Consumers want products that are both flavorful and functional – products that support health and longevity, in addition to simplified ingredient lists, clean labels, and personalized nutrition solutions.
- The Better-for-You (BFY) snack market is projected to reach $78.2 billion by 2030 (7.6% CAGR), while BFY beverages are expected to grow to $484 million by 2034 (8.5% CAGR).
- Sitting at the intersection of health, sustainability and innovation, the BFY segment offers compelling opportunities for growth, product development, and strategic mergers & acquisitions (M&A).
Global Better-for-You Snacks Market
Drivers of M&A
- Strategic M&A is accelerating portfolio transformation: Food and beverage companies, from large corporations to specialized players, are actively acquiring high-growth, health-orientated brands to align with consumer preferences and diversify their offerings.
- Recent high-profile deals highlight investor appetite: Transactions such as PepsiCo’s $1.95 billion acquisition of prebiotic soda brand Poppi and Celsius Holdings’ $1.8 billion buyout of Alani Nutrition in 2025 underscore the premium placed on functional and BFY categories.
- Multicultural and wellness-driven expansion: PepsiCo’s acquisitions of Siete Foods ($1.2 billion) and full ownership of Sabra and Obela demonstrate how global players are targeting health-forward, culturally diverse, and ready-to-eat offerings to capture new growth segments.
- Tech-enabled experiences offer new growth avenues: Companies are leveraging direct-to-consumer platforms, personalized nutrition apps, and smart packaging to engage health-conscious shoppers, driving both top-line growth and strategic acquisition opportunities.
Beth Johnson is an associate at FOCUS, where she is a member of both the Consumer and Agribusiness and Food teams. In her role, she supports clients throughout all stages of the transaction process, from valuation and marketing to due diligence and deal execution.
Prior to joining FOCUS, Johnson was Director of Development at 4P Foods, a Virginia-based fresh foods distributor committed to building a regenerative food system. She joined during a significant growth period for the company and helped it successfully close several capital raises, including ones that involved novel financing structures.
Johnson’s experience includes working with branded consumer goods companies in the natural/organic category, as well as startup ventures focusing on sustainable agriculture.
Johnson is a graduate of Hollins University, where she was a member of the equestrian team. She holds her Series 63 and 82 licenses.
