After years of outperformance, the F&B industry seems to be somewhat lost in an environment of accelerated changes and value chain fragmentation.

The sector has suffered a major correction since mid-January 2018 with a number of stocks trading well below their fundamental value

Spirits look well oriented while other subsectors will have to deliver on the earnings front to convince again.

Our Lead Analyst on Food & Beverages, Anna ZYNIEWICZ, has published her latest note entitled “Has Food & Beverages lost its shine?”.