Belgium’s Mergers and Acquisitions Market Hits Record High
Belgium’s mergers and acquisitions (M&A) market has experienced a remarkable surge in 2025, with total deal values exceeding €46 billion. This figure marks the highest total since 2015 and positions the year as one of the strongest on record, according to a report by the newspaper De Tijd. The significant increase in activity is attributed to a record number of billion-euro transactions, with at least ten deals surpassing the €1 billion mark, setting an all-time high for the country.
The largest transaction this year was the acquisition of Clarebout, a frozen chips producer, by the US company Simplot, valued at a minimum of €3.5 billion. This deal sparked protests from unions representing Clarebout’s 3,000 employees, who are advocating for a bonus in light of the sale. Other notable transactions include the Flemish government’s acquisition of a stake in Brussels Airport, Ageas completing two significant acquisitions, and the merger of shipping group CMB.Tech with Norway’s Golden Ocean, resulting in the formation of the world’s largest dry bulk carrier.
Global Trends Reflecting in Belgian Market
The robust performance of Belgium’s M&A market mirrors a global trend, where the total value of deals reached over $4.8 trillion in 2025. This surge in activity has made the year one of the most significant for mergers and acquisitions worldwide, particularly in the technology sector. The increase in large-scale takeovers reflects a growing confidence among investors and companies looking to expand their market presence.
Looking ahead to 2026, the Belgian M&A landscape is expected to remain active, with several major deals already on the horizon. Among these is the federal government’s planned sale of a 20% stake in Belfius, a significant move that could reshape the financial landscape in Belgium. Additionally, potential changes at Carrefour Belgium are anticipated, which may further influence the market dynamics.
As Belgium continues to attract substantial investment and engage in high-value transactions, the outlook for the M&A sector remains optimistic. The combination of local and international interest in Belgian companies suggests that the momentum seen in 2025 may carry into the coming years, solidifying Belgium’s position as a key player in the global M&A arena.
