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ARTICLE · 24 MARCH 2026

Consumer: Break-ups And Strategic Matchmaking

Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
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Herbert Smith Freehills Kramer LLP

Herbert Smith Freehills Kramer LLP

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Following years of expansion and the assembly of broad portfolios in the name of scale and optimisation...

United StatesConsumer Protection
Andrew Rich
Andrew Rich
Nanda Lau
Nanda Lau
Alex Kay
Alex Kay
Sophie Thompson
Sophie Thompson
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The trends we saw in consumer sector M&A over the past year play perfectly into the theme for our Global M&A report this year: the increasingly complex dynamics of the modern dating scene. In summary, it has been a year defined by break-ups, new beginnings and strategic matchmaking.

Portfolio break-ups and strategic refocus

Following years of expansion and the assembly of broad portfolios in the name of scale and optimisation, in 2025 we saw many consumer conglomerates take a harder look at which brand partnerships were truly delivering value. That period of reflection has produced a clear trend: high-profile portfolio separations. Across the sector, companies have faced increased pressure from investors to simplify group structures, sharpen their equity stories and focus on businesses with clearer strategic alignment. As a result, non-core assets have been spun off, complex organisational structures unwound and capital redeployed toward brands that genuinely belong together. In

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