Consumer M&A Transactions

Key Trends Fueling Home Improvement M&A

The home improvement industry offers a compelling investment opportunity driven by durable tailwinds and structural constraints in the U.S. housing market, according to a new industry report released by the Consumer & Residential Services investment banking team at Brown Gibbons Lang & Company (BGL).

Aging housing stock, the run-up in homeowner equity, and the long-term trend of people staying in their homes longer all support steady demand for improvements, repairs, and modernization.

Notable trends shaping home improvement M&A

Rate-locked mortgages: Most U.S. homeowners with mortgages – roughly 7 in 10 – are locked in with sub-5% rates. This creates a powerful “rate-lock effect,” with many homeowners reluctant to move and surrender their historically low interest rate.
Aging housing stock: An aging housing stock requires ongoing investment into repairs and maintenance, system replacements, and modernizing outdated layouts which drive reoccurring spending.
Housing shortage: The U.S. housing deficit is large and continues to widen, with estimates indicating the supply gap is roughly 1.5 million homes short as the rate of household formation continues to outpace the rate of newly built homes.
Home equity: Homeowner equity has never been more valuable. Rising home values and constrained housing supply have made homeowner equity a valuable source of financial leverage and household wealth.

These dynamics are reinforced by a combination of rate-locked homeowners, aging housing stock, demographic tailwinds, constrained housing supply, and record levels of tappable home equity, collectively supporting a large and durable home improvement spending opportunity.

The full consumer report is available for free download and examines these trends in further detail and how they are creating investor demand for home improvement M&A.

DOWNLOAD FULL INSIDER

Led by Patrick Gillin, BGL’s Consumer & Residential Services investment banking team brings deep experience partnering with leading operators across the direct-to-consumer home improvement and route-based residential services sectors. Our team has the investment banking and capital markets experience to advise clients across the full spectrum of financial advisory services, including M&A advisory, capital markets activities, and strategic assignments.

BGL Insider Special Report — Food & Beverage: 2025 in Review

The global food and beverage industry enters 2026 from a position of resilience and opportunity, as evolving consumer priorities and innovation acceleration continue to reshape the market landscape, according to an industry report released by the Food and Beverage investment banking team from Brown Gibbons Lang & Company (BGL), in conjunction with REACH Cross-Borders Mergers & Acquisitions.

At the same time, consumers are navigating sustained external pressures, including financial strain, geopolitical uncertainty, economic volatility, and growing climate concerns. In response, many consumers are taking a more intentional approach to health and well-being, with one in three exercising to manage stress. At the same time, conscious consumption is becoming a priority as shoppers seek options that balance value and environmental responsibility.

In this 2025 “Year-in-Review” report, BGL’s Food and Beverage investment banking team explores the dynamics of the following key food & beverage segments: bakery, beverage, condiments, dressings & sauces, dairy, food ingredients, health & wellness, and snacking.

The report also examines the key trends to watch in 2026.

2026 Food & Beverage M&A Trends Include:

Bifurcation in Consumer Demand Favoring Both Value and Premium Products: Premiumization is becoming more selective and story-driven, with successful new products requiring a clear “why,” whether rooted in health benefits, convenience, indulgence, or ethical positioning, rather than incremental upgrades at higher price points.

Functional and Protein-Focused Products Expand Across Categories: High-protein claims are becoming a leading on-pack attribute, aligning with demand for satiety, muscle recovery, and energy. BFY, fiber, and gut health claims are also gaining prominence, as brands incorporate prebiotics, probiotics, and fiber-rich ingredients alongside protein. High-protein snacks, bars, and beverages continue performing well as consumers seek convenient functional formats that support active lifestyles, particularly among younger demographics.

Global Flavor Acceleration: Flavor innovation in 2026 is balancing comfort and adventure, pairing familiar, emotionally reassuring tastes with bolder global profiles, “swicy” (sweet-and-spicy) combinations, and hybrid flavor concepts.

Snackification and Portion Control: Consumers are elevating snacking by prioritizing flavor, texture, and overall eating experience, reinforcing snacks as intentional, high-satisfaction moments rather than simple fillers between meals.

AI-Enabled Marketing and Supply Chain Visibility: AI is transforming food marketing into a real-time personalization engine, with some brands reporting ~20% lifts in email opens and conversions when campaigns, offers, and content are tailored to consumer behavior and context.

BGL Consumer Insider — Home Improvement Market Ripe for Consolidation Amid Continued Strong Demand

Powerful market trends and structural constraints in the housing market offer a compelling investment opportunity in the U.S. home improvement industry, according to an industry report released by the Consumer & Residential Services investment banking team at Brown Gibbons Lang & Company (BGL). Fragmentation across the landscape of service providers offers significant opportunities for consolidation and margin expansion.

Patrick Gillin, BGL Managing Director: “The structural tailwinds behind U.S. home improvement spending are creating a long-duration investment theme that is one of the most powerful mega trends in the consumer landscape.”

Inside the report, BGL examines the home improvement market and the tailwinds that make it an attractive sector for investment.

Key takeaways include:

The homeowners view: analysis of market forces driving homeowner behavior
The market opportunity: assessment of the home improvement market and evolving dynamics in customer behavior and spending patterns
BGL insights: observations from our perspective on current market dynamics

About BGL’s Consumer & Residential Services Investment Banking Team

BGL’s Consumer & Residential Services investment banking team brings deep experience partnering with leading operators across the direct-to-consumer home improvement and route-based residential services sectors. Our team has the investment banking and capital markets experience to advise clients across the full spectrum of financial advisory services, including M&A advisory, capital markets activities, and strategic assignments.

BGL Advises Western Botanicals

Western Botanicals has been acquired by Riverside

Client Description

Founded in 1996 and headquartered in Spanish Fork, Utah, Western Botanicals serves as a one-stop shop solution for the formulation and manufacturing of premium capsules, powders, and liquids. Western Botanicals serves a diversified customer base of top-tier brands focused on multiple end use categories including men & women’s health, digestive & gut health, sports & active nutrition, and more. The Company operates three state-of-the-art facilities totaling over 140,000 square feet dedicated to manufacturing, packaging, and warehousing, which are FDA-registered, cGMP- and NSF-compliant. Western Botanicals combines deep industry expertise with a solutions-oriented, customer-centric culture, delivering products rooted in innovation, quality and efficacy.

BGL Announces the Sale of Western Botanicals to The Riverside Company

Brown Gibbons Lang & Company (BGL), a leading independent investment bank and financial advisory firm, is pleased to announce the sale of Western Botanicals, a leading Vitamins, Minerals, and Supplements (VMS) Contract Development and Manufacturing Organization (CDMO), to The Riverside Company (Riverside). This represents BGL’s third transaction in the CDMO subsector and fourth transaction within the broader VMS industry.

BGL’s Food and Beverage investment banking team served as the exclusive financial advisor to Western Botanicals. Learn more here.

“The BGL team did an incredible job executing a thoughtful, curated process which met all our objectives,” said Don Shaver, CEO of Western Botanicals. “By selecting Riverside, we have found a capital provider who not only aligns with our ambitious growth plans but also a partner who matches our company culture and customer-first service model. I thank Dan, Stephen, and the entire Food & Beverage team for their honest advice and unwavering support and commitment throughout the entire transaction.”

Transaction Details

The acquisition will enable Western Botanicals to further capitalize on the significant tailwinds in the VMS industry, including evolving consumer health consciousness and the continued emergence of preventative healthcare. Western Botanicals will also have additional resources to further grow in underpenetrated product categories, introduce new packaging formats, and capital to broaden its geographic reach through strategic acquisitions. This investment aligns with Riverside’s health, longevity and flavor investment thesis, which focuses on businesses benefiting from long-term demographic, wellness and innovation trends.

About BGL’s Food and Beverage Investment Banking Team

BGL’s Food and Beverage investment banking team has deep sector knowledge and extensive transaction experience, representing companies across the entire food and beverage landscape. Coverage includes branded and private label products, global supply chain, contract manufacturing, processing, and distribution.

To learn more about BGL’s recent transactions in food & beverage M&A, visit our Transaction page.

2026 Inspired Home Show

The 2026 Inspired Home Show brings together home and housewares brands, retailers, and buyers to discover new products, emerging trends, and innovative solutions across the home industry.

BGL Managing Director Michael Doyle, who leads the firm’s Household Products investment banking team, will be attending the show and available to discuss the investment opportunities across all segments of the household sector.

BGL’s Household Products investment banking team has deep and comprehensive experience advising companies across all segments of the household products sector. Our team has completed transactions of all types, including sell-side and buy-side M&A, capital markets transactions, and debt advisory. We have delivered exceptional outcomes for clients manufacturing and selling products spanning all aspects of the home: interior and exterior products, as well as both durable and consumable goods.

Patrick Gillin quoted in, “Investing in Flooring,” Floor Covering Weekly

BGL Managing Director Patrick Gillin, who leads the firm’s Consumer & Residential Services team, is quoted in a Floor Covering Weekly article entitled, “Investing in Flooring.”

In the article, Patrick explores key considerations for founder owned businesses and the tailwinds driving consolidation in the flooring industry, highlighting private equity’s growing interest in scaling businesses and accelerating growth in a highly fragmented market.

BGL’s Consumer & Residential Services investment banking team brings deep experience partnering with leading operators across the Consumer & Residential Services space. Our team has extensive expertise assisting companies in achieving outstanding M&A results across a wide variety of subsectors.

For more of Patrick’s insights, read the complete article on the Floor Covering Weekly website.

Eliott Musick, Patrick Gillin, and David Silver Author “Deal Flow Swings Open: Private Equity Targets Gates Doors, and Access Control Services,” Door + Access Systems Magazine

BGL Managing Directors Eliott Musick and Patrick Gillin, and Director David Silver are featured contributors in the winter issue of Door + Access Systems Magazine, the official publication of Door & Access Systems Manufacturers Assocation International, with a piece entitled, “Deal Flow Swings Open: Private Equity Targets Gates, Doors, and Access ControlAssociation Services.”

In the article, Eliott, Patrick, and David examine the market forces driving investment interest in the gates, doors, and access control industry, the role of integrators in the value chain, and notable transactions that are shaping the industry’s evolving landscape.

BGL’s Commercial Services and Residential Services investment banking teams offer extensive transaction experience, differentiated sector insights, and deep strategic and financial sponsor relationships developed over decades of experience to deliver proven outcomes for clients. Our team advises companies providing routine maintenance, break/fix service, upgrade/replacement, and installation services to commercial facilities with a focus on technical field- and route-based services such as HVAC, fire & life safety, perimeter security and access control, and interior and exterior facility maintenance.

For their in-depth look at the industry, read the complete article in the 2026 winter issue of Door + Access Systems Magazine (page 37).

BGL Opens New, Expanded New York Office to Support Continued Growth

Brown Gibbons Lang & Company (BGL), a leading independent investment bank and financial advisory firm, has relocated its New York office to 777 Third Avenue.

The new Midtown Manhattan location is reflective of BGL’s growth and expanding presence in one of the financial services industry’s largest hubs.

Effram Kaplan and Andrew Petryk, Co-Chief Executive Officers for BGL, stated, “Continued growth across BGL’s sector and product offerings has made the New York office an increasingly important base for the firm. We can more effectively deliver cross-sector and product collaboration to the corporate and institutional capital markets.”

The relocation follows a period of significant growth for BGL. Since 2023, the firm has increased its sector coverage via senior banker additions across all its verticals and broadened its product capabilities beyond traditional majority buyout to more expansive capital markets capabilities, including debt and non-control equity advisory.

Learn more about BGL’s investment banking capabilities and our sector expertise here.

John Tilson quoted in “From Christmas Treats To GPS Collars: How Americans Are Still Spending On Pets And What It Means For Pet Care Stocks In 2026,” Benzinga

BGL’s Head of Consumer John Tilson was quoted in an article published by Benzinga entitled, “From Christmas Treats To GPS Collars: How Americans Are Still Spending On Pets And What It Means For Pet Care Stocks In 2026.”

In the article, John shares his outlook on pet M&A in 2026, highlighting how shifting consumer spending patterns are reshaping the sector. He also explores what could unlock the next wave of deal activity and why investors are watching closely.

BGL’s Pet investment banking team has been deeply entrenched and active in the industry for years. We provide a broad range of financial advisory services to businesses that are focused on improving pet health and quality of life in a rapidly evolving ecosystem.

For all of John’s insights, including which sectors will see deal activity in the coming year, read the full article on the Benzinga website