Morgan Stanley Tops 2025 Consumer M&A Rankings with $79.7bn Value
Morgan Stanley advised on nine consumer-sector deals worth a combined $79.71bn in 2025, including four billion-dollar transactions and two mega deals above $10bn, making it the top adviser by value. Houlihan Lokey led volume with 30 deals, while Goldman Sachs and JPMorgan ranked next in value with $65.13bn and $57.3bn.
1. Morgan Stanley Leads by Value
Morgan Stanley advised on a total of nine consumer-sector transactions in 2025, generating $79.71bn in deal value. Four of those deals exceeded $1bn and two crossed the $10bn threshold, cementing its position as the top adviser by value in the consumer M&A market.
2. Houlihan Lokey Tops Volume
Houlihan Lokey handled the highest number of consumer deals with 30 transactions, maintaining its volume leadership from 2024. Its focus on food-sector carve-outs, including Kraft Heinz’s asset sales in Italy, drove its high deal count.
3. Competitive Advisor Rankings
Goldman Sachs ranked second by value with $65.13bn across 16 consumer deals, while JPMorgan advised on 11 deals worth $57.3bn. Other notable advisors included Centerview Partners ($56.11bn) and PJT Partners ($48.7bn), with Rothschild & Co. and Spayne Lindsay also ranking high in deal volume.
4. Highlighted Major Transactions
Key transactions behind Morgan Stanley’s leading value included Keurig Dr Pepper’s €15.7bn acquisition of JDE Peet’s and subsequent business split. These mega deals significantly boosted MS’s advisory fees and market standing in global consumer M&A.