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Kevin 🚲 Lehmann

Founder @GOODS - M&A and strategy/data consulting

Kevin Lehmann is a consumer sector consultant, small business M&A advisor, and early-stage investor with a strong professional background in finance, market research, and data analytics. He splits his time between the US and Europe with his family. In 2021, Kevin founded GOODS, a consumer goods-focused professional services and venture business comprising Goods Intelligence for consulting services, Goods Partners for M&A advisory, and Goods Ventures for early-stage investments. Prior to this, he gained valuable experience at global investment banks Evercore and RBC, where he was a part of a top-ranked equity research team covering CPG/FMCG and restaurant/QSR sectors. Earlier in his career, Kevin worked with GlaxoSmithKline Consumer (now Haleon) and Nielsen as a market research and data analyst, supporting renowned brands like Aquafresh, Tums, and Abreva. Kevin holds a B.S. degree with distinction in Finance with an Accounting concentration, a minor in Media, and a minor in Law from Penn State University.

Highlights

Aug 14 · linkedin

Just for fun this time… subscribe to goodsletter.substack.com

What do you call money in outer space?

Starbucks! If you only had a Niccol for every time you heard that one!

Speaking of outer space, what a week for Mars. First we find liquid water under the Martian surface for the first time ever. Then Mars buys the old Kellogg’s snacking and overseas cereal business?

If you’re a public markets investor, then you know that Wall Street analysts live for coming up with great puns. So with out-of-this-world news this week from Mars (will reportedly announce its Kellanova acquisition this morning for almost $30B) and Starbucks (poaching Chipotle’s Brian Niccol as new CEO and seeing its stock 🚀 25%), get ready for an onslaught of punny report titles from the banks this morning.

Hilarious wordplay isn’t really in my orbit these days. Given the gravity of these deals, we better leave it to the star analysts. After all, their distribution lists certainly dwarf ours. In any event, investors are probably over the moon that Big Food/CPG is finally entering a new phase of M&A. Yet it’ll surely be a dark matter for global regulators as they try to understand the impact on consumer prices and competition. Still, Mars’ supernov.. er.. Kellanova of a deal might just offer the escape velocity the Food sector needs to get out of its ~20pp 1-year underperformance slump vs the SP500.

By the way, speaking of cratering performance, what do you call the strategy and forecasting problems that have caused Lamb Weston stock to drop 40% over the last 12 months?

Unidentified frying objects! 🍟

Not following along? Don’t worry, Darling. You’ll be alright.

Aug 13 · linkedin

All Quiet on the Midwestern Front

Our latest piece on the Mars-Kellanova rumors, long-term shareholder returns, and wondering what Hershey thinks...

It's free to subscribe here (for now!)...

Kevin 🚲 Lehmann
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Location

Amsterdam, North Holland, Netherlands