Leading Specialty Food Distributor Business Sold by Austin Zhao
September 24th 2020
Congratulations to Austin Zhao, Senior Business Advisor with Transworld Business Advisors of Houston, for completing his largest transaction of 2020, the sale of a Texas based, 20-year-old, specialty food wholesaler. The business focuses on the distribution of fresh produce, meats, and seafood to Asian restaurants and supermarkets in the Southern Texas market.
The business has been profitable since inception with steadily growing revenues and earnings and is widely recognized as the top-performing wholesale food supplier to the local Asian restaurant market. Revenue for 2019 was over $14mm with an EBITDA exceeding $2mm.
As a result of Austin’s aggressive marketing campaign, the business was pursued by several qualified buyers. Austin worked closely with the Seller and Buyer and their teams to facilitate the negotiating process, due diligence, and the closing. The agreed upon deal structure includes an SBA Loan, Seller Financing, and an Earn-Out. The Seller has also agreed to support the Buyer during his first year of his operation.
Austin Zhao is one of the top performers in Transworld Houston, he is a Certified Business Intermediary, Certified M&A Professional, and a Business Certified Appraiser. Austin has over 30 years’ experience in international business and joined Transworld in 2015. He was awarded Transworld Business Advisor’s Chairman Circle Award in 2019 as a top national performer. Transworld is the nation’s #1 Business Broker and Houston’s #1 Business Brokerage firm.