Not everybody went on vacation in August. In one of the more notable transactions of the month, Hormel Foods Corp. (NYSE: HRL) closed the $450 million acquisition of CytoSport Inc., the maker of protein drink Muscle Milk. The deal comes amid great interest on the part of strategic buyers, private equity firms and consumers in vitamins, minerals and supplements, as Mergers & Acquisitions reports in our September cover story by reporter Allison Collins. It’s not surprising that Hormel is leveraging the trend. The maker of Spam has become an increasingly adept strategic acquirer. Mergers & Acquisitions honored Hormel with our 2013 M&A Mid-Market Award for Deal of the Year for the $700 million purchase of the popular Skippy peanut butter brand from Unilever plc (NYSE: UL).
The retail industry also produced significant transactions in August. Footwear group Steve Madden (Nasdaq: SHOO) closed the acquisition of Dolce Vita Holdings Inc. for $60.3 million. The shoe business is experiencing a wave of consolidation, including Steve Madden’s March purchase of Brian Atwood.