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.

AcquirerTargetTarget IndustryValue ($mil)Date
Ventas IncHoliday Retirement-CanadianReal Estate; Mortgage Bankers and Brokers899.308/19/14
Compressco Partners LPCompressor Systems IncMachinery825.008/04/14
Sterigenics International IncNordion IncDrugs815.108/06/14
Groupe Norbert DentressangleJacobson Cos IncTransportation and Shipping (except air)750.008/29/14
Investor GroupMEPC Ltd-Business Parks (3)Real Estate; Mortgage Bankers and Brokers721.808/11/14
MB Financial IncTaylor Capital Group IncCommercial Banks, Bank Holding Companies650.008/18/14
Wilton Reassurance Co IncContinental Assurance CoInsurance615.008/01/14
Investor GroupLS Power Group-Safe HarborElectric, Gas, and Water Distribution613.008/08/14
Teleperformance SAAegis USA IncBusiness Services610.008/07/14
Endo International PLCDAVA Pharmaceuticals IncDrugs600.008/06/14
Trinity Industries IncThomas & Betts Corp-Meyer SteeMetal and Metal Products600.008/18/14
Google IncSkybox Imaging IncCommunications Equipment500.008/01/14
Koppers IncOsmose IncWood Products, Furniture, and Fixtures494.108/15/14
Investor GroupHenan Jinkai-Ind gas astsChemicals and Allied Products488.508/19/14
GTCR LLCCole-Parmer Instrument CoMeasuring, Medical, Photo Equipment; Clocks480.008/18/14
Cirrus Logic IncWolfson Microelectronics PLCElectronic and Electrical Equipment461.708/21/14
Southcross Energy Partners LPTexStar Midstream Svcs-SystemElectric, Gas, and Water Distribution451.608/05/14
Hormel Foods CorpCytoSport IncFood and Kindred Products450.008/11/14
Akorn IncVersaPharm IncDrugs440.008/12/14
News CorpHarlequin Enterprises LtdPrinting, Publishing, and Allied Services414.808/01/14
ON Semiconductor CorpAptina Imaging CorpElectronic and Electrical Equipment400.008/18/14
Stryker CorpSmall Bone Innovations IncMeasuring, Medical, Photo Equipment; Clocks375.008/01/14
Warren Resources IncCitrus Energy-Marcellus AstsOil and Gas; Petroleum Refining352.508/11/14
NIBE Industrier ABWaterFurnace Renewable EnergyMachinery351.808/22/14
Investor GroupComl Bldg Portfolio(6),MiamiReal Estate; Mortgage Bankers and Brokers342.008/20/14
PetroFirst InfrastructurePetrofac FPSO Holding LtdTransportation and Shipping (except air)320.008/13/14
Techne CorpProteinSimpleMeasuring, Medical, Photo Equipment; Clocks300.008/01/14
BBIPUpper Peninsula Power CoElectric, Gas, and Water Distribution298.808/28/14
Syniverse Technologies IncAicent IncPrepackaged Software292.008/04/14
Kroger CoVitacost.com IncMiscellaneous Retail Trade277.408/18/14
Brookfield InfrastructureThermal Chicago CorpElectric, Gas, and Water Distribution270.008/21/14
Sequential Brands Group IncGalaxy Brand Holdings IncInvestment & Commodity Firms,Dealers,Exchanges260.308/18/14
Health Care REIT IncGracewell - Housing (11)Social Services255.308/14/14
Amobee IncAdconion Media IncBusiness Services255.008/01/14
Hill-Rom Holdings IncTRUMPF Medizin Systeme GmbHMeasuring, Medical, Photo Equipment; Clocks250.008/01/14
Compass Diversified HoldingsClean Earth IncSanitary Services243.008/26/14
Rockefeller Group Invest MgmtTishman Speyer Ppty-OfficeReal Estate; Mortgage Bankers and Brokers212.008/01/14
Amtek Engineering LtdInterplex Industries IncMetal and Metal Products210.008/01/14
ACI Worldwide IncRetail Decisions PLCBusiness Services205.008/12/14
St Jude Medical IncNeuroTherm IncMeasuring, Medical, Photo Equipment; Clocks200.008/07/14
TripAdvisor LLCViator IncTransportation and Shipping (except air)200.008/11/14
Medtronic IncSapiens SBS BVHealth Services200.008/26/14
Encore Capital Group IncAtlantic Credit & Finance IncCredit Institutions196.008/01/14
Sony Pictures Television IncCSC Media GroupRadio and Television Broadcasting Stations181.708/15/14
Blackstone Group LPCBRE Global Invs-Bldg Port(4)Real Estate; Mortgage Bankers and Brokers180.908/16/14
Nordson CorpAvalon Labs Hldg CorpMeasuring, Medical, Photo Equipment; Clocks180.008/11/14
LinkedIn CorpBizo IncPrepackaged Software175.008/13/14
PTC IncAxeda CorpBusiness Services170.008/12/14
Realogy Holdings CorpZipRealty IncReal Estate; Mortgage Bankers and Brokers165.608/14/14
Essex Property Trust IncApex Apartments,Milpitas,CAReal Estate; Mortgage Bankers and Brokers150.008/15/14
Pure Industrial RE TrustScannell Properties-Ppty(11)Real Estate; Mortgage Bankers and Brokers135.508/05/14
Exterran Partners LPMidcon Compression LLC-GasMetal and Metal Products135.008/08/14
KBS RE Investment Trust III171 17th Street,Atlanta,GAReal Estate; Mortgage Bankers and Brokers132.508/27/14
3D Systems CorpSimbionix USA CorpPrepackaged Software120.008/28/14
Rcm Acquisition IncKforce Healthcare IncBusiness Services119.008/04/14
WP Carey IncNorwegian Property ASAReal Estate; Mortgage Bankers and Brokers118.508/07/14
American Midstream Partners LPCentana Gathering,DCP Dauphin,Electric, Gas, and Water Distribution115.408/11/14
Roadrunner Transp Sys IncActive Aero Group IncTransportation and Shipping (except air)115.008/27/14
Intrexon CorpTrans Ova Genetics LCAgriculture, Forestry, and Fishing110.008/11/14
Glu Mobile IncCie Games IncPrepackaged Software100.008/22/14
Aragon Holdings IncWaterfield Court,Signal PointeReal Estate; Mortgage Bankers and Brokers100.008/26/14
Keystone Property GroupMack-Cali Rlty-Office Ppty(6)Real Estate; Mortgage Bankers and Brokers91.508/21/14
Investcorp Technology PartnersMeridian Business CampusReal Estate; Mortgage Bankers and Brokers84.008/13/14
CBRE Global InvestorsRaiffeisen KAG-Log PortfolioReal Estate; Mortgage Bankers and Brokers82.508/15/14
Harrington Hoists IncPeerless Industrial Group IncMetal and Metal Products77.008/21/14
Gerrity Group LLCMall 205 Shopping Ctr-Mall 205Real Estate; Mortgage Bankers and Brokers76.508/01/14
Samvardhana Motherson GroupStoneridge Inc-Wiring HarnessElectronic and Electrical Equipment71.408/01/14
Pure Multi-Family REIT LPPreserve at Arbor HillsReal Estate; Mortgage Bankers and Brokers63.108/29/14
Briggs & Stratton CorpAllmand Brothers IncElectronic and Electrical Equipment62.008/29/14
Lockheed Martin CorpAstrotech Space Operations IncTransportation and Shipping (except air)61.008/22/14
Aventura Harbour Borrower LLCAventura Harbour CentreReal Estate; Mortgage Bankers and Brokers61.008/21/14
Steven Madden LtdDolce Vita Holdings IncLeather and Leather Products60.308/14/14
OPWLiquip International Pty LtdMachinery60.208/25/14
Corsa Coal CorpPBS Coals IncMining60.008/20/14
Signature Flight Support CorpScottsdale Air CenterAir Transportation and Shipping55.808/05/14
Quaker Chemical CorpECLI Products LLCOil and Gas; Petroleum Refining52.008/15/14
Ashford Hospitality Trust IncFremont Marriott SiliconHotels and Casinos50.008/06/14
Halla Visteon Climate ControlCooper-Standard Auto-ProductsTransportation Equipment46.008/01/14
Carmike Cinemas IncDigital Cinema DestinationsMotion Picture Production and Distribution42.708/15/14
Ramco-Gershenson Ppty TrButtermilk Towne CenterReal Estate; Mortgage Bankers and Brokers42.008/25/14
Lingerfelt CosHighwoods Ppty-Non-Core BldgsReal Estate; Mortgage Bankers and Brokers40.708/25/14
Worthington Industries IncMidstream Equip FabricationMetal and Metal Products40.008/01/14
Aegis Lifestyle IncMKTG IncBusiness Services39.008/27/14
Peoples Bancorp,Marietta,OHOhio Heritage Bancorp IncCommercial Banks, Bank Holding Companies37.708/22/14
Insteel Wire Products CoAmerican Spring Wire -PC StranMetal and Metal Products36.008/15/14
Yorktown Acquisition LLCYorktown Crossing Parkway,HousReal Estate; Mortgage Bankers and Brokers35.208/28/14
RADCO CosFannie Mae-MultifamilyReal Estate; Mortgage Bankers and Brokers33.208/18/14
Southern Missouri Bancorp IncPeoples Banking CoCommercial Banks, Bank Holding Companies32.308/05/14
CBRE Global InvestorsUnilever Distribution FacilityTransportation and Shipping (except air)30.608/06/14
Advanced Energy IndustriesUltraVolt IncElectronic and Electrical Equipment30.208/04/14
Calumet Specialty ProductsSpecialty Oilfield SolutionsOil and Gas; Petroleum Refining30.008/01/14
ADESA IncNthGen Software IncPrepackaged Software30.008/05/14
Oncothyreon IncAlpine Biosciences IncDrugs29.708/11/14
4th Grade Films IncStrainwise IncMiscellaneous Services28.908/19/14
Investor GroupPrincess City Plaza ShoppingReal Estate; Mortgage Bankers and Brokers28.608/21/14
First Cash Finl Services IncCash America Intl Inc-Pawn(56)Miscellaneous Retail Trade28.508/27/14
Institution For Savings IncRockport National Bancorp IncCommercial Banks, Bank Holding Companies28.308/30/14
AmREIT IncTuxedo Festival Shopping CtrReal Estate; Mortgage Bankers and Brokers27.908/25/14
Slate Retail REITWaterbury Plaza,ConnecticutReal Estate; Mortgage Bankers and Brokers27.208/28/14
Mascoma Mutual FinancialConnecticut River Bancorp IncCommercial Banks, Bank Holding Companies26.708/15/14
Alabama State Port AuthorityBlue Creek Coal TerminalMining25.008/25/14
Rockwood Equity Partners LLCAltimate Medical IncMeasuring, Medical, Photo Equipment; Clocks23.008/29/14
TexCom IncPeak Water Sys,Bennett SWD #1Oil and Gas; Petroleum Refining20.308/01/14
Omnicell IncSurgiChem LtdWholesale Trade-Durable Goods19.708/25/14
Integrated Inpatient SolutionsIntegrated Timeshare SolutionsBusiness Services18.908/26/14
Verisae IncViryaNet LtdPrepackaged Software18.808/26/14
Canyon Capital Advisors LLCSAREB-Pamela Loan PortfolioCredit Institutions18.508/07/14
Greatbatch IncCentro de Construccion de CardMeasuring, Medical, Photo Equipment; Clocks18.008/12/14
Lippert Components IncDuncan Systems IncWholesale Trade-Durable Goods18.008/18/14
Corporate Ppty Assoc 18-GlobalCording RE - Scottish TradeReal Estate; Mortgage Bankers and Brokers17.808/21/14
Vestis Retail Group LLCSport Chalet IncMiscellaneous Retail Trade17.008/18/14
Demand Media IncSaatchi Online IncMiscellaneous Retail Trade16.808/08/14
Molinos USA CorpLucini Italia Co LLCFood and Kindred Products15.008/22/14
MSCI IncGMI RatingsBusiness Services15.008/12/14
SMTP IncSharpSpring LLCBusiness Services15.008/18/14
Innovative Food Holdings IncThe Fresh Diet IncRetail Trade-Food Stores14.908/20/14
Century Communities IncGrand View Builders IncConstruction Firms14.008/12/14
First Finl Bancorp,OhioGuernsey Bancorp Inc,OhioCommercial Banks, Bank Holding Companies13.508/21/14
Chestnut Exploration &Willamar W Unit,Willacy CntyOil and Gas; Petroleum Refining13.108/26/14
BVMC Hot Springs LLCSouthcenter Shopping CenterReal Estate; Mortgage Bankers and Brokers12.808/16/14
FreeButton IncA1 Vapors IncTobacco Products12.608/14/14
Phillips Edison-ARC GroceryKipling MarketplaceReal Estate; Mortgage Bankers and Brokers12.508/07/14
Global Franchise Group LLCHDOS EnterprisesRetail Trade-Eating and Drinking Places12.208/22/14
Ladenburg Thalmann Finl SvcsHighland Capital Brokerage IncInsurance11.608/01/14
Southern National Bancorp ofPrince Georges FSBCommercial Banks, Bank Holding Companies11.508/01/14
Hometrust Bancshares IncBank of Commerce,Charlotte,NCCommercial Banks, Bank Holding Companies10.108/04/14
Armada Hoffler Properties IncDimmock SquareReal Estate; Mortgage Bankers and Brokers10.008/20/14
Slate Retail REITEast Little Creek,NorfolkReal Estate; Mortgage Bankers and Brokers9.908/25/14
MGC Diagnostics CorpMedisoft SAMeasuring, Medical, Photo Equipment; Clocks9.308/01/14
WestCap Investments CorpRed Roof Inn,MarylandHotels and Casinos8.508/25/14
MCS Guardian Properties LLCMission Village Shopping CtrReal Estate; Mortgage Bankers and Brokers8.108/26/14
Molina Healthcare IncHealthy Palm Beaches IncInsurance8.008/01/14
PGM-MB Holdings LLCMediabistro Inc-AssetsBusiness Services8.008/18/14
Interpace Diagnostics LLCAsuragen-Thyroid & PancreaticDrugs8.008/13/14
UBIC IncTechLaw Solutions IncBusiness Services8.008/28/14
BANK'34Bank 1440Commercial Banks, Bank Holding Companies8.008/09/14
Oxford Immunotec Global PLCBoulder Diagnostics IncDrugs7.908/05/14
LeMaitre Vascular IncXenotis Pty LtdDrugs7.708/18/14
P&F Industries IncAir Tool Service CoMeasuring, Medical, Photo Equipment; Clocks7.708/14/14
Sizmek IncAerify MediaAdvertising Services6.308/11/14
Valour Power LtdCentury Winner IncReal Estate; Mortgage Bankers and Brokers6.208/28/14
Timberline Resources CorpWolfpack Gold CorpMining5.508/15/14
Geeknet IncTreehouse Brand Stores LLCTextile and Apparel Products5.008/01/14
Clough LtdCHIV InternationalBusiness Services5.008/08/14
First Federal of Northern,MIAlpena Banking CorpCommercial Banks, Bank Holding Companies4.308/08/14
Health Ins Innovations IncAmer Svc Ins Agcy LLCInsurance4.008/08/14
Investor GroupSpringer Oil & Gas LLC-ShoatsOil and Gas; Petroleum Refining3.708/26/14
Aqua Resources IncTri-State Grouting LLCSanitary Services3.008/04/14
Seven Arts Entertainment IncAero Networks LLCTelecommunications2.908/26/14
MatNic Resources IncGraphene 3D Lab IncElectronic and Electrical Equipment2.308/08/14
Fabrication Technologies LLCAmerican Access TechnologiesMetal and Metal Products2.308/15/14
LiveDeal IncModern Everyday IncBusiness Services2.108/18/14
Investor GroupEnergy Fuels Inc-uranium assetMining2.108/20/14
Wireless Ronin TechnologiesBroadcast International IncCommunications Equipment1.908/01/14
Falcon Gold CorpCanyon Copper Corp-New YorkMining1.908/20/14
Asure Software IncRoomtag LLCBusiness Services1.708/11/14
Cancer Genetics IncBioserve BiotechnologiesDrugs1.108/18/14
Bayview Acquisitions LLCBBX Capital-Consumer LoansCredit Institutions1.008/07/14
Medytox Diagnostics IncEpinex Diagnostics Labs IncBusiness Services0.508/26/14
Clear TV Venture IncPetlife CorpWholesale Trade-Nondurable Goods0.308/11/14
Lender's Title CoLouisiana Abstract & Title LLCReal Estate; Mortgage Bankers and Brokers0.208/08/14
Aqua America IncHubquarter Forestry LLC-AssetsElectric, Gas, and Water Distribution0.008/22/14
Aqua America IncSparta Township-Summit LakesElectric, Gas, and Water Distribution0.008/01/14
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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