BUYER POOL ANALYSIS
Selling a Beverage Manufacturing to Individual / Owner-Operator buyers
Owner-operators, SBA-financed independent buyers, and smaller management buyouts. Pricing reflects what an individual can finance (typically 10-25% down + SBA 7(a)) and operate hands-on. Below typical PE engagement size.
Quick answers
- What multiple does this buyer pool pay?
- Median EV/EBITDA 9.76x across 8 disclosed deals (P25: 7.28x, P75: 16.35x). Median EV/Revenue 2.1x across 12 deals. Median deal value: $20.94M.
- How many disclosed transactions?
- 12 deals total (5 from 2018+), filtered to Individual / Owner-Operator acquirers of beverage manufacturing businesses.
- Most active buyers
- Prime Drink Group Corp. (1) · TRUBAR Inc. (:TRBR) (1) · Public Markets (IPO) (1) · Primo Water Corporation (:PRMW) (1) · Craft Brew Alliance, Inc. (:BREW) (1)
Recent disclosed deals
Individual / Owner-Operator acquisitions of beverage manufacturing businesses with named target, named acquirer, and disclosed financials.
| Year | Target | Acquirer | EV | EV/EBITDA | EV/Rev |
|---|---|---|---|---|---|
| 2024 | Triani Canada Inc. | Prime Drink Group Corp. | $26.1M | 8.3x | 1.28x |
| 2022 | Jones Soda Co. | TRUBAR Inc. (:TRBR) | $61.9M | — | 3.76x |
| 2021 | Oatly (IPO) | Public Markets (IPO) | $1430.0M | — | 23.80x |
| 2020 | Primo Water Corporation | Primo Water Corporation (:PRMW) | $693.1M | 15.8x | 2.47x |
| 2007 | Widmer Brothers Brewing Company | Craft Brew Alliance, Inc. (:BREW) | $59.2M | 6.2x | 0.95x |
What this buyer pool prices for
Individual buyers — owner-operators, SBA-financed independents, smaller management buyouts — price for what they can finance (typically 10-25% down with SBA 7(a) loans up to $5M deal value) and operate hands-on. Multiples are below PE / strategic because the buyer is taking the owner-operator role, not stepping in as institutional capital. Owner-dependency and seasonality matter more here than to a PE buyer.
Methodology note
Multiples shown are computed from disclosed M&A transactions in the ExitValue.ai database, filtered to beverage manufacturing businesses acquired by individual / owner-operator buyers. EV/EBITDA outliers outside the [0.5x, 60x] band and EV/Revenue outliers outside [0.05x, 25x] are excluded from medians. Where available, post-2018 transactions are weighted; otherwise the all-time sample is used. Deal counts shown reflect deals with disclosed financials only — total transaction count for this buyer pool is typically 2-3x larger. Full methodology
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