GCG’s Q1 2024 Food & Beverage Industry Update provides an overview of the latest trends in the sector, including recent performance, valuation multiples, and the state of the middle-market M&A environment.

Key findings include the following:

• Across the Food & Beverage (“F&B”) industry, most sectors have seen consistent quarter-over-quarter growth through Q1 2024. Reduced economic pressures have shifted industry focus towards expansion through strategic consolidation and enhanced technology investments to foster organic growth.
• Nearly all sectors in the F&B industry experienced an increase in share price. The Food Retail segment saw the largest average increase in share price over the quarter, of 10.1%.
• In Q1 2024, the Food and Beverage industry witnessed a decrease in deal volume but an increase in average deal value, suggesting a strategic shift towards acquiring high-quality assets. This trend in increased deal value is likely facilitated by the more accommodating lending environment, allowing industry players to refine their portfolios by focusing on key strategic areas.
• Based on a representative set of publicly traded companies across the F&B industry, companies traded at an average multiple of 14.1x EBITDA and 2.6x Revenue in Q1 2024.

Click here for the full update.

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