Mergers & Acquisitions

Big break-up headlines rocked the food industry in 2011. But the market overall reported growth across the board. Expect big changes on this list next year.

Pfizer Inc. knocked out some competition in the OTC pharmaceutical market when it acquired Wyeth's consumer healthcare brands in 2009. How has the Centrum-brand owner performed compared to the competition since?

No. 1 player P&G made progress toward its purpose-inspired growth strategy, while Unilever reported gains in its transformation to a sustainable growth company. Most of the companies on this list followed their lead with modest sales gains in 2011.

The Apparel, Footwear and Accessories market is alive and well thanks to increased consumer spending in 2011. Plus, find out which companies hopped on the list when mainstays, like Liz Claiborne, made an exit.

The Coca-Cola Company and Select Milk Producers, Inc. will acquire equity stakes in the newly-created Fair Oaks Farms Brands, LLC to drive growth and expansion of Core Power and to create an innovative portfolio of brands and products that feature the value-added nutrition of dairy.

Dean Foods will use substantially all of the net proceeds from the sale of Morningstar to significantly reduce outstanding debt, resulting in a stronger balance sheet and increased flexibility to execute against our strategies for our core dairy business.

The retirement of the Executive Vice President and President, Developing Markets, sparks an effort to streamline the company's operating unit structure given the size and importance of Developing Markets to future growth.

With this acquisition, the company's brands will generate approximately $13 billion in retail sales globally, with more than $2.5 billion attributable to the company's portfolio of athletic brands.