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 joined FOCUS as an associate in March 2022. Ms. Johnson assists with the preparation of confidential information memorandums and detailed target lists that support buy-side and sell-side engagements, as well as data management and due diligence organization.
Prior to FOCUS, Ms. Johnson was Director of Impact & Development at 4P Foods, a Virginia-based food distribution company serving B2B and B2C customers throughout the Mid-Atlantic region, where she supported capital raise events with a focus on novel financing structures, including program-related investments. Ms. Johnson was responsible for targeting prospective investors and supporting the C-suite with the development of investment materials, which helped the company successfully secure a blend of equity investment, debt financing, and charitable grants.
Ms. Johnson is a graduate of Hollins University (B.A. in Art History) where she was a member of the equestrian team. She is a volunteer with organizations in Charlottesville, including Charlottesville Angel Network and Venture Velocity at the Darden School of Business at the University of Virginia.
