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

Nevertheless, deal volume in August dropped to 168 completed middle-market transactions, down from July’s 221 closed. Deal value also fell, with August yielding $23.8 billion, down from $21.9 billion in July. Despite the seasonal slowdown in completed transactions, the first eight months of 2014 produced 1,492 middle-market deals valued at $194.9 billion, beating the same periods in 2012 and 2013, according to Thomson Reuters. 

See the table below for middle-market deals that closed in August.

Acquirer Target Target Industry Value ($mil) Date
Ventas Inc Holiday Retirement-Canadian Real Estate; Mortgage Bankers and Brokers 899.3 08/19/14
Compressco Partners LP Compressor Systems Inc Machinery 825.0 08/04/14
Sterigenics International Inc Nordion Inc Drugs 815.1 08/06/14
Groupe Norbert Dentressangle Jacobson Cos Inc Transportation and Shipping (except air) 750.0 08/29/14
Investor Group MEPC Ltd-Business Parks (3) Real Estate; Mortgage Bankers and Brokers 721.8 08/11/14
MB Financial Inc Taylor Capital Group Inc Commercial Banks, Bank Holding Companies 650.0 08/18/14
Wilton Reassurance Co Inc Continental Assurance Co Insurance 615.0 08/01/14
Investor Group LS Power Group-Safe Harbor Electric, Gas, and Water Distribution 613.0 08/08/14
Teleperformance SA Aegis USA Inc Business Services 610.0 08/07/14
Endo International PLC DAVA Pharmaceuticals Inc Drugs 600.0 08/06/14
Trinity Industries Inc Thomas & Betts Corp-Meyer Stee Metal and Metal Products 600.0 08/18/14
Google Inc Skybox Imaging Inc Communications Equipment 500.0 08/01/14
Koppers Inc Osmose Inc Wood Products, Furniture, and Fixtures 494.1 08/15/14
Investor Group Henan Jinkai-Ind gas asts Chemicals and Allied Products 488.5 08/19/14
GTCR LLC Cole-Parmer Instrument Co Measuring, Medical, Photo Equipment; Clocks 480.0 08/18/14
Cirrus Logic Inc Wolfson Microelectronics PLC Electronic and Electrical Equipment 461.7 08/21/14
Southcross Energy Partners LP TexStar Midstream Svcs-System Electric, Gas, and Water Distribution 451.6 08/05/14
Hormel Foods Corp CytoSport Inc Food and Kindred Products 450.0 08/11/14
Akorn Inc VersaPharm Inc Drugs 440.0 08/12/14
News Corp Harlequin Enterprises Ltd Printing, Publishing, and Allied Services 414.8 08/01/14
ON Semiconductor Corp Aptina Imaging Corp Electronic and Electrical Equipment 400.0 08/18/14
Stryker Corp Small Bone Innovations Inc Measuring, Medical, Photo Equipment; Clocks 375.0 08/01/14
Warren Resources Inc Citrus Energy-Marcellus Asts Oil and Gas; Petroleum Refining 352.5 08/11/14
NIBE Industrier AB WaterFurnace Renewable Energy Machinery 351.8 08/22/14
Investor Group Coml Bldg Portfolio(6),Miami Real Estate; Mortgage Bankers and Brokers 342.0 08/20/14
PetroFirst Infrastructure Petrofac FPSO Holding Ltd Transportation and Shipping (except air) 320.0 08/13/14
Techne Corp ProteinSimple Measuring, Medical, Photo Equipment; Clocks 300.0 08/01/14
BBIP Upper Peninsula Power Co Electric, Gas, and Water Distribution 298.8 08/28/14
Syniverse Technologies Inc Aicent Inc Prepackaged Software 292.0 08/04/14
Kroger Co Vitacost.com Inc Miscellaneous Retail Trade 277.4 08/18/14
Brookfield Infrastructure Thermal Chicago Corp Electric, Gas, and Water Distribution 270.0 08/21/14
Sequential Brands Group Inc Galaxy Brand Holdings Inc Investment & Commodity Firms,Dealers,Exchanges 260.3 08/18/14
Health Care REIT Inc Gracewell - Housing (11) Social Services 255.3 08/14/14
Amobee Inc Adconion Media Inc Business Services 255.0 08/01/14
Hill-Rom Holdings Inc TRUMPF Medizin Systeme GmbH Measuring, Medical, Photo Equipment; Clocks 250.0 08/01/14
Compass Diversified Holdings Clean Earth Inc Sanitary Services 243.0 08/26/14
Rockefeller Group Invest Mgmt Tishman Speyer Ppty-Office Real Estate; Mortgage Bankers and Brokers 212.0 08/01/14
Amtek Engineering Ltd Interplex Industries Inc Metal and Metal Products 210.0 08/01/14
ACI Worldwide Inc Retail Decisions PLC Business Services 205.0 08/12/14
St Jude Medical Inc NeuroTherm Inc Measuring, Medical, Photo Equipment; Clocks 200.0 08/07/14
TripAdvisor LLC Viator Inc Transportation and Shipping (except air) 200.0 08/11/14
Medtronic Inc Sapiens SBS BV Health Services 200.0 08/26/14
Encore Capital Group Inc Atlantic Credit & Finance Inc Credit Institutions 196.0 08/01/14
Sony Pictures Television Inc CSC Media Group Radio and Television Broadcasting Stations 181.7 08/15/14
Blackstone Group LP CBRE Global Invs-Bldg Port(4) Real Estate; Mortgage Bankers and Brokers 180.9 08/16/14
Nordson Corp Avalon Labs Hldg Corp Measuring, Medical, Photo Equipment; Clocks 180.0 08/11/14
LinkedIn Corp Bizo Inc Prepackaged Software 175.0 08/13/14
PTC Inc Axeda Corp Business Services 170.0 08/12/14
Realogy Holdings Corp ZipRealty Inc Real Estate; Mortgage Bankers and Brokers 165.6 08/14/14
Essex Property Trust Inc Apex Apartments,Milpitas,CA Real Estate; Mortgage Bankers and Brokers 150.0 08/15/14
Pure Industrial RE Trust Scannell Properties-Ppty(11) Real Estate; Mortgage Bankers and Brokers 135.5 08/05/14
Exterran Partners LP Midcon Compression LLC-Gas Metal and Metal Products 135.0 08/08/14
KBS RE Investment Trust III 171 17th Street,Atlanta,GA Real Estate; Mortgage Bankers and Brokers 132.5 08/27/14
3D Systems Corp Simbionix USA Corp Prepackaged Software 120.0 08/28/14
Rcm Acquisition Inc Kforce Healthcare Inc Business Services 119.0 08/04/14
WP Carey Inc Norwegian Property ASA Real Estate; Mortgage Bankers and Brokers 118.5 08/07/14
American Midstream Partners LP Centana Gathering,DCP Dauphin, Electric, Gas, and Water Distribution 115.4 08/11/14
Roadrunner Transp Sys Inc Active Aero Group Inc Transportation and Shipping (except air) 115.0 08/27/14
Intrexon Corp Trans Ova Genetics LC Agriculture, Forestry, and Fishing 110.0 08/11/14
Glu Mobile Inc Cie Games Inc Prepackaged Software 100.0 08/22/14
Aragon Holdings Inc Waterfield Court,Signal Pointe Real Estate; Mortgage Bankers and Brokers 100.0 08/26/14
Keystone Property Group Mack-Cali Rlty-Office Ppty(6) Real Estate; Mortgage Bankers and Brokers 91.5 08/21/14
Investcorp Technology Partners Meridian Business Campus Real Estate; Mortgage Bankers and Brokers 84.0 08/13/14
CBRE Global Investors Raiffeisen KAG-Log Portfolio Real Estate; Mortgage Bankers and Brokers 82.5 08/15/14
Harrington Hoists Inc Peerless Industrial Group Inc Metal and Metal Products 77.0 08/21/14
Gerrity Group LLC Mall 205 Shopping Ctr-Mall 205 Real Estate; Mortgage Bankers and Brokers 76.5 08/01/14
Samvardhana Motherson Group Stoneridge Inc-Wiring Harness Electronic and Electrical Equipment 71.4 08/01/14
Pure Multi-Family REIT LP Preserve at Arbor Hills Real Estate; Mortgage Bankers and Brokers 63.1 08/29/14
Briggs & Stratton Corp Allmand Brothers Inc Electronic and Electrical Equipment 62.0 08/29/14
Lockheed Martin Corp Astrotech Space Operations Inc Transportation and Shipping (except air) 61.0 08/22/14
Aventura Harbour Borrower LLC Aventura Harbour Centre Real Estate; Mortgage Bankers and Brokers 61.0 08/21/14
Steven Madden Ltd Dolce Vita Holdings Inc Leather and Leather Products 60.3 08/14/14
OPW Liquip International Pty Ltd Machinery 60.2 08/25/14
Corsa Coal Corp PBS Coals Inc Mining 60.0 08/20/14
Signature Flight Support Corp Scottsdale Air Center Air Transportation and Shipping 55.8 08/05/14
Quaker Chemical Corp ECLI Products LLC Oil and Gas; Petroleum Refining 52.0 08/15/14
Ashford Hospitality Trust Inc Fremont Marriott Silicon Hotels and Casinos 50.0 08/06/14
Halla Visteon Climate Control Cooper-Standard Auto-Products Transportation Equipment 46.0 08/01/14
Carmike Cinemas Inc Digital Cinema Destinations Motion Picture Production and Distribution 42.7 08/15/14
Ramco-Gershenson Ppty Tr Buttermilk Towne Center Real Estate; Mortgage Bankers and Brokers 42.0 08/25/14
Lingerfelt Cos Highwoods Ppty-Non-Core Bldgs Real Estate; Mortgage Bankers and Brokers 40.7 08/25/14
Worthington Industries Inc Midstream Equip Fabrication Metal and Metal Products 40.0 08/01/14
Aegis Lifestyle Inc MKTG Inc Business Services 39.0 08/27/14
Peoples Bancorp,Marietta,OH Ohio Heritage Bancorp Inc Commercial Banks, Bank Holding Companies 37.7 08/22/14
Insteel Wire Products Co American Spring Wire -PC Stran Metal and Metal Products 36.0 08/15/14
Yorktown Acquisition LLC Yorktown Crossing Parkway,Hous Real Estate; Mortgage Bankers and Brokers 35.2 08/28/14
RADCO Cos Fannie Mae-Multifamily Real Estate; Mortgage Bankers and Brokers 33.2 08/18/14
Southern Missouri Bancorp Inc Peoples Banking Co Commercial Banks, Bank Holding Companies 32.3 08/05/14
CBRE Global Investors Unilever Distribution Facility Transportation and Shipping (except air) 30.6 08/06/14
Advanced Energy Industries UltraVolt Inc Electronic and Electrical Equipment 30.2 08/04/14
Calumet Specialty Products Specialty Oilfield Solutions Oil and Gas; Petroleum Refining 30.0 08/01/14
ADESA Inc NthGen Software Inc Prepackaged Software 30.0 08/05/14
Oncothyreon Inc Alpine Biosciences Inc Drugs 29.7 08/11/14
4th Grade Films Inc Strainwise Inc Miscellaneous Services 28.9 08/19/14
Investor Group Princess City Plaza Shopping Real Estate; Mortgage Bankers and Brokers 28.6 08/21/14
First Cash Finl Services Inc Cash America Intl Inc-Pawn(56) Miscellaneous Retail Trade 28.5 08/27/14
Institution For Savings Inc Rockport National Bancorp Inc Commercial Banks, Bank Holding Companies 28.3 08/30/14
AmREIT Inc Tuxedo Festival Shopping Ctr Real Estate; Mortgage Bankers and Brokers 27.9 08/25/14
Slate Retail REIT Waterbury Plaza,Connecticut Real Estate; Mortgage Bankers and Brokers 27.2 08/28/14
Mascoma Mutual Financial Connecticut River Bancorp Inc Commercial Banks, Bank Holding Companies 26.7 08/15/14
Alabama State Port Authority Blue Creek Coal Terminal Mining 25.0 08/25/14
Rockwood Equity Partners LLC Altimate Medical Inc Measuring, Medical, Photo Equipment; Clocks 23.0 08/29/14
TexCom Inc Peak Water Sys,Bennett SWD #1 Oil and Gas; Petroleum Refining 20.3 08/01/14
Omnicell Inc SurgiChem Ltd Wholesale Trade-Durable Goods 19.7 08/25/14
Integrated Inpatient Solutions Integrated Timeshare Solutions Business Services 18.9 08/26/14
Verisae Inc ViryaNet Ltd Prepackaged Software 18.8 08/26/14
Canyon Capital Advisors LLC SAREB-Pamela Loan Portfolio Credit Institutions 18.5 08/07/14
Greatbatch Inc Centro de Construccion de Card Measuring, Medical, Photo Equipment; Clocks 18.0 08/12/14
Lippert Components Inc Duncan Systems Inc Wholesale Trade-Durable Goods 18.0 08/18/14
Corporate Ppty Assoc 18-Global Cording RE - Scottish Trade Real Estate; Mortgage Bankers and Brokers 17.8 08/21/14
Vestis Retail Group LLC Sport Chalet Inc Miscellaneous Retail Trade 17.0 08/18/14
Demand Media Inc Saatchi Online Inc Miscellaneous Retail Trade 16.8 08/08/14
Molinos USA Corp Lucini Italia Co LLC Food and Kindred Products 15.0 08/22/14
MSCI Inc GMI Ratings Business Services 15.0 08/12/14
SMTP Inc SharpSpring LLC Business Services 15.0 08/18/14
Innovative Food Holdings Inc The Fresh Diet Inc Retail Trade-Food Stores 14.9 08/20/14
Century Communities Inc Grand View Builders Inc Construction Firms 14.0 08/12/14
First Finl Bancorp,Ohio Guernsey Bancorp Inc,Ohio Commercial Banks, Bank Holding Companies 13.5 08/21/14
Chestnut Exploration & Willamar W Unit,Willacy Cnty Oil and Gas; Petroleum Refining 13.1 08/26/14
BVMC Hot Springs LLC Southcenter Shopping Center Real Estate; Mortgage Bankers and Brokers 12.8 08/16/14
FreeButton Inc A1 Vapors Inc Tobacco Products 12.6 08/14/14
Phillips Edison-ARC Grocery Kipling Marketplace Real Estate; Mortgage Bankers and Brokers 12.5 08/07/14
Global Franchise Group LLC HDOS Enterprises Retail Trade-Eating and Drinking Places 12.2 08/22/14
Ladenburg Thalmann Finl Svcs Highland Capital Brokerage Inc Insurance 11.6 08/01/14
Southern National Bancorp of Prince Georges FSB Commercial Banks, Bank Holding Companies 11.5 08/01/14
Hometrust Bancshares Inc Bank of Commerce,Charlotte,NC Commercial Banks, Bank Holding Companies 10.1 08/04/14
Armada Hoffler Properties Inc Dimmock Square Real Estate; Mortgage Bankers and Brokers 10.0 08/20/14
Slate Retail REIT East Little Creek,Norfolk Real Estate; Mortgage Bankers and Brokers 9.9 08/25/14
MGC Diagnostics Corp Medisoft SA Measuring, Medical, Photo Equipment; Clocks 9.3 08/01/14
WestCap Investments Corp Red Roof Inn,Maryland Hotels and Casinos 8.5 08/25/14
MCS Guardian Properties LLC Mission Village Shopping Ctr Real Estate; Mortgage Bankers and Brokers 8.1 08/26/14
Molina Healthcare Inc Healthy Palm Beaches Inc Insurance 8.0 08/01/14
PGM-MB Holdings LLC Mediabistro Inc-Assets Business Services 8.0 08/18/14
Interpace Diagnostics LLC Asuragen-Thyroid & Pancreatic Drugs 8.0 08/13/14
UBIC Inc TechLaw Solutions Inc Business Services 8.0 08/28/14
BANK'34 Bank 1440 Commercial Banks, Bank Holding Companies 8.0 08/09/14
Oxford Immunotec Global PLC Boulder Diagnostics Inc Drugs 7.9 08/05/14
LeMaitre Vascular Inc Xenotis Pty Ltd Drugs 7.7 08/18/14
P&F Industries Inc Air Tool Service Co Measuring, Medical, Photo Equipment; Clocks 7.7 08/14/14
Sizmek Inc Aerify Media Advertising Services 6.3 08/11/14
Valour Power Ltd Century Winner Inc Real Estate; Mortgage Bankers and Brokers 6.2 08/28/14
Timberline Resources Corp Wolfpack Gold Corp Mining 5.5 08/15/14
Geeknet Inc Treehouse Brand Stores LLC Textile and Apparel Products 5.0 08/01/14
Clough Ltd CHIV International Business Services 5.0 08/08/14
First Federal of Northern,MI Alpena Banking Corp Commercial Banks, Bank Holding Companies 4.3 08/08/14
Health Ins Innovations Inc Amer Svc Ins Agcy LLC Insurance 4.0 08/08/14
Investor Group Springer Oil & Gas LLC-Shoats Oil and Gas; Petroleum Refining 3.7 08/26/14
Aqua Resources Inc Tri-State Grouting LLC Sanitary Services 3.0 08/04/14
Seven Arts Entertainment Inc Aero Networks LLC Telecommunications 2.9 08/26/14
MatNic Resources Inc Graphene 3D Lab Inc Electronic and Electrical Equipment 2.3 08/08/14
Fabrication Technologies LLC American Access Technologies Metal and Metal Products 2.3 08/15/14
LiveDeal Inc Modern Everyday Inc Business Services 2.1 08/18/14
Investor Group Energy Fuels Inc-uranium asset Mining 2.1 08/20/14
Wireless Ronin Technologies Broadcast International Inc Communications Equipment 1.9 08/01/14
Falcon Gold Corp Canyon Copper Corp-New York Mining 1.9 08/20/14
Asure Software Inc Roomtag LLC Business Services 1.7 08/11/14
Cancer Genetics Inc Bioserve Biotechnologies Drugs 1.1 08/18/14
Bayview Acquisitions LLC BBX Capital-Consumer Loans Credit Institutions 1.0 08/07/14
Medytox Diagnostics Inc Epinex Diagnostics Labs Inc Business Services 0.5 08/26/14
Clear TV Venture Inc Petlife Corp Wholesale Trade-Nondurable Goods 0.3 08/11/14
Lender's Title Co Louisiana Abstract & Title LLC Real Estate; Mortgage Bankers and Brokers 0.2 08/08/14
Aqua America Inc Hubquarter Forestry LLC-Assets Electric, Gas, and Water Distribution 0.0 08/22/14
Aqua America Inc Sparta Township-Summit Lakes Electric, Gas, and Water Distribution 0.0 08/01/14

Editor's Note: 

To measure activity in the middle market, Mergers & Acquisitions looks at transactions that fulfill several requirements: Deals must have a value of roughly $1 billion or less; they must be completed (not just announced) within the timeframe designated; and they must include at least one U.S. company in the role of buyer and/or seller. Excluded from our charts are: recapitalizations; self-tenders; exchange offers; repurchases; stake purchases; and transactions with undisclosed values, buyers or sellers. Data is provided by Thomson Reuters.

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