Mega-Deals Propel Sullivan & Cromwell to the Top (Image Credits: Unsplash)
GlobalData’s analysis of 2025 mergers and acquisitions in the consumer sector highlighted Sullivan & Cromwell’s commanding lead in deal value and Kirkland & Ellis’s stronghold in transaction volume.[1][2]
Mega-Deals Propel Sullivan & Cromwell to the Top
Sullivan & Cromwell advised on consumer deals worth a staggering $84 billion last year. The firm handled just seven transactions, yet six qualified as billion-dollar deals, including two exceeding $10 billion each. This focus on high-stakes activity set it apart from competitors.
Kirkland & Ellis followed with $63.52 billion in value across more deals. Cravath, Swaine & Moore secured third place at $54.13 billion. These figures underscored a year where blockbuster transactions drove rankings.[1]
Kirkland & Ellis Handles Highest Transaction Count
Kirkland & Ellis advised on 32 consumer M&A deals in 2025, reclaiming its volume lead from the prior year. Latham & Watkins trailed with 27 transactions, while Baker McKenzie managed 20. The firm’s consistent performance across numerous deals highlighted its broad market presence.
This volume dominance complemented its strong value ranking. GlobalData noted Kirkland & Ellis’s ability to balance quantity and quality in a competitive landscape. Firms like these navigated complex regulatory and market challenges effectively.
| Firm | Deal Value ($bn) | Deal Volume |
|---|---|---|
| Sullivan & Cromwell | 84 | 7 |
| Kirkland & Ellis | 63.52 | 32 |
| Cravath, Swaine & Moore / Latham & Watkins | 54.13 / N/A | N/A / 27 |
Notable Transactions in Food and Beverage
Sullivan & Cromwell guided Anheuser-Busch InBev’s acquisition of a majority stake in BeatBox, the U.S. hard punch producer. This deal exemplified the firm’s role in strategic expansions within beverages.
Kirkland & Ellis supported Ferrero’s $3.1 billion purchase of WK Kellogg in July. Such moves reflected ongoing consolidation in cereals and snacks amid shifting consumer preferences. Food and beverage deals formed a core part of the consumer sector’s activity.[1]
- Consumer M&A emphasized billion-dollar transactions, with mega-deals boosting top firms.
- Private equity and strategic buyers targeted health, wellness, and established brands.
- GlobalData tracked data from company sites, advisory submissions, and real-time sources.
Analyst View on Sector Dynamics
Aurojyoti Bose, lead analyst at GlobalData, observed the disparity in strategies. “Sullivan & Cromwell was way ahead of its peers in terms of value during 2025, as it advised on some big-ticket deals,” Bose stated. He added that six of the firm’s seven deals were billion-dollar affairs, including two mega ones over $10 billion.[1]
Bose further noted, “Meanwhile, Kirkland & Ellis was the top adviser by volume in 2024 and retained its leadership position by this metric in 2025 as well. It also held the second position in terms of value by advising on $63.5bn worth of deals.” This dual strength pointed to a robust year for elite legal advisers.
Key Takeaways from 2025 Consumer M&A:
- Sullivan & Cromwell’s $84 billion haul came from selective, high-value deals.
- Kirkland & Ellis managed 32 transactions, blending volume with $63.5 billion in value.
- Food and beverage saw key consolidations like Ferrero-WK Kellogg and AB InBev-BeatBox.
These rankings from Just Food and GlobalData reveal how targeted expertise fueled success in consumer M&A. As dealmaking evolves, firms prioritizing mega-transactions may gain further ground. What trends do you foresee for 2026? Share your thoughts in the comments.
