Food Sector M&A Is Heating Up, Gabelli Fund Manager Says: Watch For BellRing Brands, Campbell Soup

The food industry is ripe for consolidation now that the Federal Reserve is expected to cut interest rates in September. According to Kevin Dreyer, co-CIO of Value at Gabelli Funds, lower rates generally stimulate M&A activity. "One thing to note is that, as rates come down, that tends to lead to an upswing in M&A activity," Dreyer told CNBC on Friday, Aug. 23. "Food stocks have had a tough year — the consumer stretch, inflation has been biting them — they've been struggling with volume growth, but snacking ...