Consumer & Food M&A valuation multiples
Lower-middle-market consumer & food companies have sold for a median 9.2× trailing EBITDA. The middle half of the 28 sourced transactions fall between 6.0× and 12.5×; data as of October 2026.
- Median EV/EBITDA
- 9.2×
- Middle half
- 6.0× – 12.5×
- Median EV/Revenue
- 0.8×
- Transactions
- 28
Quartiles
| Measure | p25 – median – p75 | n |
|---|---|---|
| EV/EBITDA | 6.0× – 9.2× – 12.5× | 28 |
| EV/Revenue | 0.6× – 0.8× – 2.0× | 17 |
Trailing multiples of enterprise value, targets at or below $25M of EBITDA, sourced transactions only, deals from 2018–2025. The database tracks 232 sourced consumer & food transactions at every size; only those that disclose a multiple and fall in the band are counted here. Figures from fewer than 8 transactions are withheld.
By niche
Peer groups inside the sector with enough disclosed deals to publish. A niche can overlap the sector’s other groups.
| Niche | EV/EBITDA p25 – median – p75 | n |
|---|---|---|
| Food and beverage manufacturing | 8.3× – 11.1× – 13.6× | 10 |
By company size
Smaller companies usually trade at lower multiples. Where both halves of the band have enough deals, they are shown separately. Why multiples differ by size.
| Size band | EV/EBITDA p25 – median – p75 | n |
|---|---|---|
| Targets with EBITDA up to $5M | 4.5× – 7.2× – 12.1× | 12 |
| Targets with EBITDA of $5M to $25M | 8.6× – 11.1× – 13.6× | 18 |
Recent transactions in the sample
The most recent disclosed deals behind the figures above, each linked to its source.
| Target | Acquirer | Year | EV/EBITDA |
|---|---|---|---|
| Naturium (Naturium LLC) | e.l.f. Beauty, Inc. | 2023 | 20.9× |
| Wholesome Sweeteners, Incorporated (WSO Investments) | Whole Earth Brands, Inc. (Nasdaq: FREE) | 2021 | 7.8× |
| Vitner's (brand and DSD distribution assets) | Utz Brands, Inc. (NYSE: UTZ) | 2021 | 12.5× |
| Swerve, L.L.C. | Whole Earth Brands, Inc. (Nasdaq: FREE) | 2020 | 14.8× |
| Papa Murphy's Holdings, Inc. | MTY Food Group Inc. | 2019 | 8.5× |
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This valuation guidance is an educational estimate generated from publicly sourced comparable-transaction data and standard methodologies. It is not an appraisal, a fairness opinion, or investment, legal, or tax advice, and it does not predict the price any buyer will pay. Actual outcomes depend on diligence, market conditions, and negotiation. Consult your own advisors before making decisions.
Selling a consumer & food company
Citing a figure?
This page updates as deals are added. The fixed 2026-Q4 snapshot recorded a median of 9.2× for Consumer & Food (n=28) and will not change. Cite the 2026-Q4 snapshot.
Other industries
- Aerospace & Defense
- Industrials & Manufacturing
- Software & Technology
- Healthcare
- Business Services
- Distribution & Logistics
- Construction & Engineering
- Packaging & Plastics
- Energy & Utilities
How these figures are built: methodology.