Done Deal – Insights from our M&A and Activism team – March 2026

 Meet our Team: 30 seconds with Brian Waldman

Describe your area of expertise at FTI and the value you bring to clients?

I’m a member of FTI’s M&A, Activism and Governance team, supporting organizations of all shapes and sizes as they navigate the complexities of these high stakes situations. Having spent the first decade of my career in the equity capital markets, I leverage my experience as a sell side analyst and familiarity with the investor mindset to provide an analytical and holistic perspective to all engagements. My background not only enables me to quickly understand the strategic and financial ramifications of our clients’ situation, but to help executives anticipate the challenges they may face from the Street and other stakeholders so that they can be best positioned for a successful outcome.

What deal trends are you seeing in your marketplace?

I covered nearly all aspects of Consumer, Staples and Discretionary, early in my career, and take a leadership role across many of our Consumer-related engagements. The setup for Consumer companies in 2026 is perhaps the most challenging I’ve seen in my career. Rapid advancements in technology and routes to market over the past 15 years have lowered the historically high barriers to entry that created a moat for large CPG players, while also diminishing the need for scale across multiple categories. Fluctuations in trade policy, rapid movements in commodities, and supply chain disruption have impacted gross margins and clouded the ability to forecast. Additionally, evolving consumer trends around wellness, the broader MAHA movement, and the proliferation of GLP-1s are weighing on traditional players across the Food, Beverage, and Restaurant industries. These dynamics have been unfolding while the outlook for consumer spending has become muddled due to a weakening labor market and global conflicts that threaten to reverse the progress made against inflation. 

With all these factors at play, it’s perhaps not surprising companies have been simplifying their business models, whether proactively or under pressure from investors. These dynamics led to many recent headlining transactions, which we expect to continue, while also giving rise to a new potential trend – the search for scale. We believe the announced merger of KDP and JDE Peet’s followed by a separation into two pure-play businesses is just one of what could be many cross-border deals focused on achieving scale in distinct categories. International transactions of this nature are multifaceted and require a comprehensive approach to communications, with dedicated focus on the political and regulatory establishments in addition to managing traditional stakeholders.

What do you do outside of work that helps you reset and stay sharp for the next professional challenge?

I’m a proud father of two young girls that my wife and I are raising in NYC. We try our best to escape the fast-paced life of the city and spend time outdoors, which provides an opportunity to decompress. We hope to instill an appreciation for nature and provide the opportunity to see the amazing sites across the country. The Adirondacks are our home away from home and we try to get to at least one National Park each year. In fact, we’ll likely be walking through Saguaro National Park in Arizona when this issue of the Done Deal is published.