In meat, seafood, and alt protein, buyers don’t want hype — they want hygiene.

M&A in primary proteins didn’t grab headlines this year — but quietly, some very strategic deals landed. And they all had one thing in common: clean, capable operations with locked-in customers and traceable systems.

Start with Fenn Foods, best known for its plant-based Veef line — acquired out of administration by Smart Foods. It wasn’t a brand buy — it was a salvage op for strong infrastructure and inventory. Craig Mostyn’s acquisition of Green Mount Foods was another practical move: cooked beef and lamb lines, ready to scale. Meanwhile, The Fish Factory Australia sold a controlling stake to Japanese buyer Asahi Shokuhin, underscoring global interest in compliant cold-chain seafood.

What’s clear? Buyers don’t care if you’re traditional or plant-based — they care if you can deliver. Foodservice and export channels are driving valuations. High-throughput, low-waste, batch-clear facilities get the calls. Burnt-out founder with no handover plan? You won’t.

For FY26, expect buyers to chase:

• Traceability and certifications
• Export-ready formats (especially cooked/frozen)
• Margin through innovation: marinated, portioned, or high-protein convenience lines

Alt protein still has a lane — but it’s for players with real IP and clear product-market fit, not just lifestyle branding.

Final tip? Think like a buyer. If your site, yield, and QA wouldn’t pass your own audit — fix it now. Because in protein M&A, it’s not the flashiest that gets bought. It’s the cleanest, clearest, and most dependable.