Fletcher, Alliance, Spark, Fonterra, a2 Milk: a harbinger of M&A activity in 2025

Mergers and acquisition activity has been largely flat but experts are picking that is about to change. (Image: BusinessDesk)

Rebecca Stevenson

Tue, 12 Aug 2025

The big deals are yet to come in 2025 with potential asset sales or acquisitions for Spark, Fletcher Building, Fonterra, Alliance Group and a2 Milk. PricewaterhouseCoopers' (PwC) mergers and acquisitions update for the quarter ended June found there were 43 deals announced and 35 trade sales. This was a 19% increase on the first quarter of 2025, but a 17% decline compared to the 52 deals in the second quarter of 2024. During the quarter to June, there were eight private equity transactions, compared to one in the previous qua...

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