Food & Beverage
Sell-side M&A, acquisitions, financings and valuations for food manufacturers, beverage brands, specialty and frozen foods, and the companies that supply them.
Food and beverage is where Tully & Holland began and where most of our transactions have closed. Our bankers ran businesses at H.J. Heinz, RJR Nabisco, Ocean Spray, Gorton’s, Kraft and Diageo before they advised on them, so they read a plant tour, a trade spend schedule and a co-packer agreement the way a buyer will.
We have represented family-owned manufacturers, founder-led brands and corporate divestitures across snacks, frozen foods, seafood, beverages, coffee, craft beer and specialty foods. We know the strategic acquirers and the consumer-focused private equity groups that buy in each category, and we know what they pay for and what they discount.
We advise on sales and divestitures, acquisitions, financings and valuations. Every engagement is led by the senior bankers you meet first.
Food & Beverage transactions
Exclusive Financial Advisor to Clover on Private Placement
Financial advisor
has been acquired by
Sell-side transaction
has merged with
FINESTKIND BREWING, LLC
Financial advisor
has been acquired by
Sell-side transaction
has been acquired by
Sell-side transaction
has acquired
Buy-side transaction
has been acquired by
Sell-side transaction
has acquired
Buy-side transaction
has been acquired by
Sell-side transaction
has been acquired by
Sell-side transaction
has acquired a minority stake in Belize Brewing Company, Ltd.
Sell-side transaction
has been acquired by
Sell-side transaction
has been acquired by
Sell-side transaction
has sold selected Vitasoy USA assets to
Sell-side transaction
has been acquired by
Sell-side transaction
has sold the selected assets to
Sell-side transaction
has been acquired by
Sell-side transaction
has entered into a Joint Venture with
Financial advisor
has been acquired by
Sell-side transaction
has been acquired by
Sell-side transaction
has been acquired by
Sell-side transaction
has been acquired by
Sell-side transaction
has been acquired by
Sell-side transaction
has sold its assets to an undisclosed strategic buyer
Sell-side transaction
has sold Chesapeake Bay Gourmet, Chesapeake Bay Brand and World Class Fulfillment to
Sell-side transaction
has been acquired by
Sell-side transaction
has been acquired by
Sell-side transaction
has been acquired by
Sell-side transaction
has been acquired by
Carolina Retail Ventures
Sell-side transaction
has been acquired by
Sell-side transaction
has been acquired by
Sell-side transaction
has been recapitalized by
Financial advisor
has been acquired by
Sell-side transaction
has acquired
Buy-side transaction
has acquired
CV Finer Foods
Buy-side transaction
has acquired
Buy-side transactionFood & Beverage transaction trends
Closed Food & Beverage transactions by year, by quarter and by deal size, drawn from Capital IQ and PitchBook and updated quarterly. Every sector’s dashboard is on the Industries page.
Food & Beverage transaction trends
Food & Beverage insights
Seafood Industry Update March 2019
By early 2019, global seafood M&A had climbed four years running and buyers were paying up for vertical integration. Our...
Read →
Frozen Food Industry Update Summer 2025
A $91.3 billion category has shed its last-resort reputation, and buyers have noticed. Our Summer 2025 update on the tre...
Read →
Craft Beer Year End Report 2024
Craft volumes fell 2% in the first half of 2024 while brewery counts sat at historic highs. Our year end report on why d...
Read →
Healthy Food & Beverage Update April 2019
In every deal-size bracket we measured, healthy food and beverage companies sold at higher EV/EBITDA multiples than thei...
Read →
Snack Food Industry Update October 2026
US snack sales grew about 4.8% to roughly $156 billion, and almost none of it came from volume. The companies winning no...
Read →
Craft Beer Industry Update Summer 2024
Nearly 10,000 US breweries produced $29 billion in 2023 sales, yet production declined for the first time in the modern ...
Read →Questions owners ask
Who is buying food and beverage companies today?
Strategic acquirers filling category or capability gaps, consumer-focused private equity groups building platforms, and family offices with longer holding periods. The right buyer depends on the company's margin profile, channel mix and growth rate, and a well-run process puts all three in front of the owner.
How is a food or beverage company valued?
On a multiple of EBITDA for established manufacturers and on revenue for high-growth brands, cross-checked against public comparables, precedent transactions and the business's own cash flows. Co-manufacturing, private label and branded businesses trade differently, and we value each on its own terms.
When should an owner start preparing for a sale?
Twelve to twenty-four months ahead. That is enough time to tidy the financials, resolve customer concentration or capacity questions, and go to market on a strong trailing twelve months rather than explain a weak one.