COVID-19: Nash Advisory support for your business COVID-19 response.
Learn more
Gain deeper insight into your industry and competitors with the help of our comprehensive industry reports
Learn more
Gain deeper insight into your industry and competitors with the help of our comprehensive industry reports
Food and beverage businesses operate in a margin-sensitive environment shaped by input cost volatility, retailer concentration, regulatory oversight and scale. Consolidation remains active, with strategic buyers and private equity targeting well-positioned businesses with defensible margins and clear growth pathways.
Nash Advisory advises owners on strategic sales and acquisitions, helping position businesses to attract the right buyers and achieve premium outcomes.
.png)
Australia’s food and beverage sector is a $145bn+ industry, with revenue forecast to grow at 4.8% CAGR through to 2030. Despite margin pressure from input costs and labour, the sector remains resilient, contributing 4.2% of GDP and generating over $70bn in export income.
In the past 24 months, transaction activity has been most active in the small to mid-market, reflecting ongoing consolidation as strategic acquirers and private equity pursue scalable brands with strong positioning, recurring demand and operational efficiency. Select larger-cap transactions have also occurred, demonstrating continued appetite for high-quality, scaled assets.
Nash Advisory’s industry report explores how these dynamics are influencing valuation, buyer appetite and transaction outcomes across the broader food and beverage landscape.
We advise food and beverage businesses across Australia on company sales and acquisitions. With deep sector insight and access to domestic and international buyers, we help owners navigate complex transaction processes and position their businesses to achieve premium outcomes.
Cost pressures, shifting consumer preferences and retailer dynamics are reshaping how food and beverage businesses are valued and transacted. While inflation has moderated, elevated input costs and cost-of-living pressures continue to influence buying behaviour, with consumers trading toward value, private-label and at-home consumption.
In response, buyers are prioritising businesses that demonstrate pricing discipline, operational efficiency and earnings resilience. Consolidation remains active as strategic acquirers and private equity pursue scalable brands with clear differentiation and defensible market positions.
Businesses able to demonstrate pricing discipline, automation, diversified revenue and exposure to growth segments, including health-focused products, ready-made meals and sustainable packaging, are attracting heightened buyer competition.
Hear from Paul Nemets on identifying an attractive food business
Our experience advising food and beverage businesses spans a range of subsectors, including ready meals, dairy, protein, food manufacturing and branded FMCG. The case studies below demonstrate how we have managed competitive sale processes, positioned assets for strategic buyers and delivered strong commercial outcomes in the mid-market.
Working with Nash was an absolute pleasure. They were at all times completely responsible and accountable to everything that we needed. Their strong financial acumen was incredibly important throughout the whole process. It was really important that they were able to truly articulate the value of the business in its current state and also look and really delve into the potential future alternate uses for the business…We were really happy with the interest that Nash generated. So we had multiple seriously interested parties, which created that competitive tension that you really need in a deal and was able to achieve the outcome that we wanted and that we expected.
After that first meeting it was clearly evident that the team at Nash were the right partner for us. They showed knowledge of the sector during that first meeting and I guess in every sort of situation, people buy people, and we certainly bought into Tom and Kieran during that first meeting in Melbourne.
Nash have made it seamless for us and most importantly now the ownership is actually sitting within Australia rather than an international operator. So we’re really pleased with that outcome.
Working with Nash was an absolute pleasure. They were at all times completely responsible and accountable to everything that we needed. Their strong financial acumen was incredibly important throughout the whole process. It was really important that they were able to truly articulate the value of the business in its current state and also look and really delve into the potential future alternate uses for the business…We were really happy with the interest that Nash generated. So we had multiple seriously interested parties, which created that competitive tension that you really need in a deal and was able to achieve the outcome that we wanted and that we expected.
Unlock a world of possibilities with Nash Advisory's global capabilities. Through our partnership with REACH, we provide unparalleled access to industry experts and local market connoisseurs across 30 countries.
Whether you're selling your business, merging, or seeking investment, our team of seasoned professionals crafts bespoke strategies tailored to your unique needs. Trust us to navigate the complexities of the global market, ensuring you achieve exceptional outcomes that reflect the true value of your hard work and dedication.
As one of our clients, you will have direct access to the knowledge and experience of our directors. We will work through the whole process with you, from start to finish.
We know what makes a business appealing to buyers, because we've owned and run businesses ourselves. Our own experience informs every step of our process.
Maximising the sale price of your business requires finding the right buyer. We have a broad network of contacts which includes Australian and international businesses.
We only succeed if you do. We focus all our efforts on getting you the best result. That's why most of our fees are on the back end.
As one of our clients, you will have direct access to the knowledge and experience of our directors. We will work through the whole process with you, from start to finish.
We know what makes a business appealing to buyers, because we've owned and run businesses ourselves. Our own experience informs every step of our process.
Maximising the sale price of your business requires finding the right buyer. We have a broad network of contacts which includes Australian and international businesses.
We only succeed if you do. We focus all our efforts on getting you the best result. That's why most of our fees are on the back end.
Nash Advisory provides end-to-end support for businesses, from valuations and sale preparation through to buyer engagement, negotiation and completion of complex mid-market transactions.
We provide expert guidance to help you prepare, market, and negotiate the best outcome for your business sale.
Our team delivers accurate, data-driven valuations to help you understand and enhance your business’s worth.
Our proprietary approach to business sales ensure you get the highest possible sale multiple for your business.
Selling a business requires structure, preparation and disciplined execution. Our transaction blueprint outlines the end-to-end sale process, key documents and strategic steps involved in achieving a successful outcome.
We have advised on a range of food processing and manufacturing transactions across Australia. These completed deals demonstrate our ability to position businesses strategically, manage competitive processes and deliver strong commercial outcomes.
.png)
Chefgood is a fast-growing Australian ready meals brand known for its health-focused product range and strong direct-to-consumer presence. The business offers a wide selection of calorie-controlled, chef-prepared meals targeting time-poor and health-conscious consumers.
In May 2025, Chefgood was acquired by My Muscle Chef, the leading Australian ready meals company backed by Quadrant Private Equity. The acquisition brings together two high-growth operators in the health-focused ready meals segment, with strong brand recognition and complementary capabilities across ecommerce, manufacturing and logistics.
Nash Advisory was engaged by Marley Spoon SE (XTRA:MS1) to manage the divestment of Chefgood as part of its broader strategic refocus. The transaction was led by Paul Nemets.
Crackerjack Foods is a leading, Melbourne-based frozen foods manufacturer, specialising in premium potato-based and frozen products. The company’s product line includes a variety of potato cake options, as well as battered hot dogs, hash browns and battered fish products.
In September 2023, Crackerjack entered into an agreement to be acquired by US French Fries manufacturer Lamb Weston. The transaction provides Lamb Weston with access to Crackerjack’s two manufacturing plants in Campbellfield and Keilor, where the business can continue making inroads in the ‘premiumisation’ trend within the frozen foods sector.
Nash Advisory was appointed by Crackerjack in February 2023 to assist with structuring and executing the divestment. The transaction was led by Paul Nemets. HWL Ebsworth acted as legal advisor on the transaction.
%20(6)%20-%20Edited.png)
Saint David's Dairy is a premium dairy brand that supplies milk and other dairy products to cafe's and restaurants across Victoria. SDD is an iconic brand, particularly in Melbourne's 'coffee culture' inner suburbs.
Maggie Beer Holdings engaged Nash Advisory to conduct a strategic review of their dairy operations. Ultimately, SDD was identified as a non-core asset and the business was divested to Goulburn Valley Creamery. All staff transitioned with the sale and SDD continues to operate in the local market.
The transaction was led by Nash Advisory’s Paul Nemets and Sean O’Neill.
Australian Whole Foods needed a growth partner to inject significant funds into the business as part of their growth Strategy. The Nash Advisory team was able to secure a major funding partner in Patties Pies, owned by Pacific Equity Partners.
We also implemented an acquisition strategy to enable Australian Whole Foods to reach their ambitious growth goals.
Planning to sell or acquire a food or beverage business? Speak directly with a senior advisor to assess your objectives, timing and suitability before proceeding.
Food and beverage engagements are led by senior directors from start to finish. Clients work directly with the people responsible for strategy, negotiation and execution.
Nash Advisory supports food and beverage businesses across Australia. Engagements are led by directors with relevant sector expertise, regardless of location, delivering consistent, senior-led advice across the country.
Our advisors travel across Australia to work with business owners on-site and manage transactions on the ground. We connect vendors with qualified domestic and international buyers, wherever they operate.
Our insights explore industry trends, buyer appetite and valuation drivers across the food and beverage sector. Stay informed on the factors influencing strategic transactions, from pricing power and margin resilience to comparable transaction multiples.
Business valuation multiples differ by industry. This article has everything you need to know about valuing a business in a range of common industries.
As Australians drink less volume and focus on premium, alcohol companies are becoming popular with buyers. Here's everything you need to know about trends that affect the value of alcohol businesses.
Preparation and planning are critical to get your business sale-ready. Nash Business Advisory share their top ten pieces of advice.
Our LinkedIn channel shares timely insights on business sales, valuations and industry trends, drawn from real transaction experience across the food processing and manufacturing sectors.
Industry forecasts estimate the Australian food sector at approximately $145.9 billion in annual revenue, with projected growth of 4.8% per annum through to 2030. The sector comprises more than 14,000 food manufacturing businesses operating across diverse categories nationwide.
Industry forecasts estimate food exports at approximately $70.1 billion annually, highlighting the global relevance of Australian producers. Businesses with established export channels and diversified international customers often attract stronger buyer interest due to earnings resilience and growth optionality.
Food and beverage transactions are typically assessed using EBITDA multiples, with outcomes varying by scale, subsector and earnings quality. Public market comparables indicate that protein producers are trading at median multiples of approximately 11x EBITDA, branded FMCG businesses at 8–9x, and grain, feed, and agriculture businesses at lower median multiples.
In practice, buyers reward businesses with defensible margins, operational efficiency, diversified revenue and clear growth visibility, while earnings volatility or customer concentration will compress multiples.
Premium outcomes are generally achieved by businesses that demonstrate sustainable gross margins, pricing discipline and scalable production. Automation, diversified revenue streams and documented compliance frameworks materially enhance buyer confidence and competitive tension.
Yes. Despite cost pressures, consolidation remains active across food and beverage, particularly in fragmented subsectors where scale unlocks procurement, manufacturing and distribution efficiencies. Strategic acquirers and private equity investors continue to pursue well-positioned mid-market assets.
With more than 14,000 manufacturers operating nationally, differentiation is critical. Scaled businesses with modern plants, efficient cost structures, and the capacity to expand without significant reinvestment are viewed more favourably during due diligence and typically generate stronger competitive dynamics.
The strongest outcomes are typically achieved when margins are stable, reporting is robust, and growth initiatives are clearly articulated. In a sector forecast to grow at 4.8% annually, businesses that can align their positioning with structural growth trends are better placed to maximise value.
We advise owners on readiness, valuation positioning and structured sale processes aligned with current buyer appetite. Our sector experience enables us to position businesses effectively, generate competitive tension and drive premium transaction outcomes.
Considering a transaction in the food sector? Speak with a senior director to assess your objectives, timing, and suitability before proceeding.
Powered by EngineRoom
.jpg)
.jpg)
.jpg)
%20(1).jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
