Market Report Catering 2025 – Trends, Valuations & M&A

The catering sector demonstrates structural strength in 2025, despite recent macroeconomic pressures. The composite “Catering Index” has significantly outperformed both global and broad food indices over the past five years, with a weighted increase of approximately 132.1% compared to 77.7% for the MSCI World Index and 0.3% for the STOXX Global 1800 Food & Beverages. This highlights the value of long-term contracts, predictable demand and stable cash flows within the sector.

Valuations of publicly listed catering companies vary widely, ranging from providers with modest profitability to premium operators with strong margins. The median EV/EBITDA multiple is around 8.7×, while EV/EBIT stands at approximately 11.3× and EV/Sales at 0.7×. Major international players such as Compass Group, Sodexo and Aramark illustrate how scale, contract structures and market leadership can translate into higher multiples, solid profitability and sustainable returns.

Clear market trends are emerging around plant-based innovation, sustainability, full-service outsourcing and premiumisation. Demand for plant-forward and locally produced meals continues to rise, driven by stricter regulations such as CSRD and a growing focus on health, transparency and experience. At the same time, organisations increasingly seek “total care” solutions where caterers manage production, logistics and service end-to-end. This shift goes hand in hand with an active M&A landscape, with international players and private equity accelerating consolidation and investing in differentiated concepts, as seen in transactions involving Vermaat, Hutten and De Buurtboer.

For caterers, investors, foodservice operators and suppliers, the report provides valuable benchmarks on valuations, growth expectations, margins, sector trends and transaction activity. The insights support strategic decision-making related to expansion, acquisitions, divestments and repositioning within an evolving foodservice market.

Would you like full analyses, transaction overviews, current valuation multiples and sector-specific insights?
View the full Catering Market Report Q3 2025 (in Dutch) here.

Related Transactions

Our experience within the Catering sector is reflected in a range of transactions that align with the themes presented in this market report:

• PS in Foodservice acquired by Swedish Matilda FoodTech
• Sale of De Saladetuin to Meinders Catering
• Sale of De Buurtboer to Albron
• Sale majority stake STACH to Vermaat Group