The food ingredient industries are characterized by a large number of smaller companies operating alongside some of the well-known, large international firms. Cost pressures, scale economies, succession issues as well as excellent valuations have caused many companies to consolidate and/or seek an exit. We are active in helping these suppliers structure a sale/merger of their companies. We have also represented larger suppliers and private equity firms in finding suitable additions for their operations. The industry is undergoing significant change as consumers in developed countries increasingly realize that their food intake will drive their health and are demanding cleaner labels and the use of "natural", sustainably-sourced ingredients. This change will create many opportunities for new supplies and product concepts.