Food & Beverage sector experienced subdued dealmaking activity in 2023. Market-wide deal volume declined due to a scarcity of both buyers and sellers, coupled with fluctuating valuations amid prevailing economic uncertainties. Encouragingly, the latter part of the year witnessed a positive shift, particularly in middle-market deals, where valuations averaged 7.5x Trailing Twelve Months (TTM) adjusted EBITDA—a notable increase of 0.9x from the second quarter and in line with first-quarter figures. Read the full report.
Beth Johnson joined FOCUS as an associate in March 2022. Ms. Johnson assists with the preparation of confidential information memorandums and detailed target lists that support buy-side and sell-side engagements, as well as data management and due diligence organization.
Prior to FOCUS, Ms. Johnson was Director of Impact & Development at 4P Foods, a Virginia-based food distribution company serving B2B and B2C customers throughout the Mid-Atlantic region, where she supported capital raise events with a focus on novel financing structures, including program-related investments. Ms. Johnson was responsible for targeting prospective investors and supporting the C-suite with the development of investment materials, which helped the company successfully secure a blend of equity investment, debt financing, and charitable grants.
Ms. Johnson is a graduate of Hollins University (B.A. in Art History) where she was a member of the equestrian team. She is a volunteer with organizations in Charlottesville, including Charlottesville Angel Network and Venture Velocity at the Darden School of Business at the University of Virginia.
