The total value of global mergers and acquisitions (M&A) deals hit $831 billion in the third quarter (Q3) of 2025, up 36% from the same period of the previous year and the highest quarterly total since Q1 2024. This activity was fueled by lower interest rates, steady economic growth, and a renewed focus on supply chain resilience. Supply chain-related transactions reached $61 billion across 12 deals, covering sectors like materials and consumer sectors, according to GlobalData, a leading data and analytics company.

GlobalData’s latest Strategic Intelligence report, “Global M&A Deals in Q3 2025 – Top Themes by Sector,” reveals that in Q3 2025, the combined value of mega-deals, defined as transactions valued at $1 billion or more, rose by 32% to $675 billion, up from $510 billion in the third quarter of 2024.

Priya Toppo, Analyst, Strategic Intelligence at GlobalData, comments: “Rising geopolitical tensions, changing demographics, increased ESG regulations, ongoing labor shortages, and rapid digital transformation have increased the volume of M&A activity driven by the supply chain theme. Companies are increasingly focused on creating resilient, localized, and technology-driven supply chains to reduce risks and enhance operational efficiency. This trend is especially noticeable in the materials, consumer, industrial, and healthcare sectors.”

The biggest supply chain deal was Keurig Dr Pepper’s acquisition of JDE Peet’s for $23.1 billion. This deal was also the biggest in the consumer sector in Q3 2025. It was followed by Lowe’s Companies’ acquisition of Foundation Building Materials for $8.8 billion and Advent International’s acquisition of the essential home business from Reckitt Benckiser Group for $4.8 billion.

Toppo continues: “An ongoing trend is the dominance of North America in M&A deal activity, which showed a 66% increase year-over-year and a 54% increase quarter-over-quarter.”

Toppo concludes: “The M&A outlook for the coming year is cautiously optimistic, fueled by potential interest rate cuts and the need to adjust to the new tariff landscape. However, large deals may still face challenges in the US due to ongoing regulatory scrutiny.”