How a Bakery Sold at 25x EBITDA with Wholesale Contracts

In this episode, Lucas and Luna examine how a regional bakery chain in Portland, Oregon, achieved a 25x EBITDA multiple when it sold to a private equity-backed consolidator. The key driver wasn't brand loyalty or foot traffic—it was long-term wholesale contracts with school districts and grocery chains, which provided predictable recurring revenue. The hosts walk through the deal structure, the role of contract renewals in valuation, and why buyers pay premiums for revenue streams that don't depend on discretionary consumer spending. They also discuss the risks of customer concentration and how the seller de-risked the business before the exit. A concrete case study in how mundane businesses can command Silicon Valley-style multiples when the revenue maths is right. #BakeryAcquisition #WholesaleContracts #EBITDAMultiple #BusinessBroker #PrivateEquity #RecurringRevenue #Portland #FoodBusiness #SmallBusinessExit #BuyerSellerPodcast #FexingoBusiness #BusinessPodcast #Valuation #ContractRevenue #CustomerConcentration #ExitPlanning #DealStructure #Bakeries Keep every episode free: buymeacoffee.com/fexingo