“With an abundance of capital in private equity markets and large corporate players realigning their strategic vision, we believe 2022 is trending toward another strong year of M&A activity in the food and beverage space,” reports “Food and Beverage M&A Landscape” (Spring 2022) from Kroll. As for public-company trading multiples in this sector, the median EV/TTM EBITDA multiple is 14.8x (as of March 31, 2022) overall with subsectors ranging from 26.7x (for alcoholic beverages) to 6.5x (for protein producers).