An animal-free supply chain. Plant-based fiber. Low-carbon packaging. What sounds like a Gen-Z shopper’s wish list is increasingly powering food and beverage transactions and valuations, as public markets and private acquirers chase demand for snacks that are as good for the waistline as they are for the planet. Private equity firms, like Blue Point Capital and L Catterton, and corporations like Cargill and Mondelez are leveraging the trends, as Mergers & Acquisitions explores in this feature from our May issue.