After a record-breaking M&A year in 2021, retail dealmaking cooled a bit in 2022 due to the tough inflationary environment. But when the deals were made, they were big (we’re looking at you, Kroger and Albertsons), so from grocery and beyond, we rounded up a few standout moves from 2022.
Kroger and Albertsons plan to merge
October saw one of the biggest proposed deals in the US grocery industry’s history: Kroger, the country’s largest grocer, announced its plans to buy the second largest grocer, Albertsons, in a deal worth nearly $24.6 billion. The two claim the proposed move would help them compete against rivals such as Walmart and Amazon, grow their footprint, and lower prices. Of course, they’re facing a rigorous regulatory review by the Federal Trade Commission first, but hope to close the deal by early 2024.
Estée Lauder acquires Tom Ford
The Estée Lauder Companies in November shared its plans to acquire luxury brand Tom Ford in a deal valued at $2.8 billion. The deal is expected to close in the first half of 2023, with the eponymous Tom Ford staying on as its “creative visionary” through the end of next year.
Getir gets Gorillas
While rapid delivery startups boomed during the pandemic’s peak, they faced a bumpy road this year, with many going up for sale, exiting the US market, or shuttering all together. The most notable consolidation came in December, when Getir bought its competitor Gorillas in a deal that would value the new entity at $10 billion.
Mondelez grabs Clif
After turning down the offer for Quaker Oats to buy it for $120 million in 2000, Clif Bar & Company sold for a much higher price tag—$2.9 billion—to food giant Mondelez in June. The move establishes a $1 billion snack-bar portfolio for Mondelez, which also owns refrigerated bar brand Perfect Snacks.
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Victoria’s Secret acquires Adore Me
Victoria’s Secret’s $400 million acquisition of DTC lingerie brand Adore Me was a major move on its road to redemption. Adore Me, known for its expansive size range, will help the intimates retailer grow in an “inclusive, tech-forward, and sustainable way,” according to Victoria’s Secret.
Naver picks up Poshmark
As the secondhand market continues to heat up, Korean ecommerce giant Naver announced plans to buy fashion marketplace Poshmark for $1.2 billion. Poshmark CEO and founder Manisha Chandra said in a statement the company would benefit from Naver’s “financial resources, significant technology capabilities, and leading presence across Asia” to expand into new markets.
Misfits Market buys Imperfect Foods
In September, sustainability-minded marketplace Misfits Market (valued at ~$2 billion) said it planned to buy Imperfect Foods in a deal that Misfits CEO Abhi Ramesh previously told Retail Brew would hopefully prove to larger brick-and-mortar retailers “that a true, pure-play online grocery company can get real scale and can get to profitability.”
Shopify scoops up Deliverr
In its biggest acquisition to-date, Shopify bought e-commerce fulfillment company Deliverr in May for $2.1 billion, which Shopify’s logistic group CEO Aaron Brown said creates an “end-to-end logistics platform to unlock fast and easy fulfillment” for “millions of independent businesses, on and off Shopify.”