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If you think about what consumer

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companies want to do is achieve

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growth, and they do that by

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following where the consumer goes.

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The result of that is companies

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to adapt to that have to

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use M&A as a tool

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to be able to follow those

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consumer changes.

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And they use M&A to

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typically acquire brands or assets that

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will give them faster growth, because

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those are to enter a new

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and faster growing category, which is

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suddenly on trend, to enter a

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region or a country where they

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have no presence, but the growth

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potential is significant, or simply to

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acquire a brand which is more

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on trend and faster growing than

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the other brands in their portfolio.

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And on the flip side, they

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would regularly, consumer companies, they would

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regularly sell assets or brands that

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are not meeting their growth expectations.

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Consumer trends are regularly changing, and

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they're changing as a result of

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a number of factors.

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Actually, pretty much everything we're seeing

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in our daily life is affecting

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those consumer changes in behavior.

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They are changing because there are

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societal changes, they are changing because

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of technological trends or they're changing

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because of macro sentiment.

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Talking about health and wellness, for

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instance, that has been a huge

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trend ongoing for decades now.

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And as a result of that,

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what you've seen is part of

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the consumer industry, some segments have

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been growing much faster.

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Think about nutrition, think about any

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type of better-for-you beverages,

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think about supplements, and consumer companies

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would want to actually jump on

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the bandwagon, follow those trends and

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therefore be acquirers of companies that

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are driving those faster growths.

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We are able to bring truly global

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perspectives to our clients.

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And ultimately, this is a global sector.