2026 Australian Import & Export Trading M&A Overview

By Morgan Business Sales | Updated May 2026 | Australian M&A Advisory

Industry Overview: Australian Import & Export Trading

The Australian import wholesale and export trading sector encompasses a wide range of business models, product categories, and trade relationships. For the purposes of this report, the sector covers two primary activity types: import wholesalers and distributors — businesses that source physical goods from overseas manufacturers and suppliers and distribute them through Australian trade, retail, or commercial channels — and export trading companies and consolidators — businesses that aggregate, package, and sell Australian-produced goods into international markets, typically operating as intermediaries between domestic producers and overseas buyers.

This is a sector of genuine structural breadth. An import hardware distributor supplying 700 independent hardware stores with power tools sourced from Taiwan and China operates in the same broad category as a food ingredient importer serving Australian manufacturers, or a consumer electronics accessories distributor placing products through 3,000 retail outlets. On the export side, an agrifood trading company consolidating barley and canola shipments for Asian buyers operates alongside a health supplement exporter serving Chinese daigou channels, a premium wine exporter selling into newly reopened Chinese retail, and a natural products consolidator shipping to Southeast Asian distributors.

What unites these diverse business models — and what makes them a coherent M&A category — is their shared exposure to the structural forces shaping Australian trade: exchange rate dynamics, free trade agreement opportunities, the China relationship reset, supply chain diversification, and the consolidation of distribution channels by national and international strategic buyers. Australia's total two-way trade in goods and services reached $1.276 trillion in 2024–25, according to ABS data — with merchandise imports totalling $629.9 billion in credits and exports $646.6 billion. China remains the dominant trading partner in both directions: $188.7 billion in Australian exports to China and $120 billion in imports from China in 2024–25.

Import Wholesale Distribution

Australia's import wholesale and distribution sector spans dozens of product categories. Key segments include: consumer goods importers (electronics accessories, homewares, seasonal products, personal care); building materials and hardware distributors (power tools, fasteners, doors, windows, plumbing products, safety equipment); food and beverage importers (packaged foods, ingredients, beverages, snacks, specialty products); industrial goods and machinery distributors (equipment, components, engineering supplies); chemical importers (industrial, agricultural, and specialty chemicals); and health product importers (vitamins, supplements, medical devices, natural products).

The import wholesale sector is structurally attractive to M&A acquirers for several reasons. Established distributors carry defensible commercial positions — exclusive or preferred agency agreements with overseas manufacturers create barriers to entry that are difficult to replicate quickly. Large, diversified customer networks (1,000–5,000 active retail or trade accounts) represent significant commercial infrastructure. Own-label and private-label product development further strengthens margin profiles and brand equity. National distribution reach — spanning all states and territories with established logistics arrangements — is a strategic asset that acquirers value highly because it takes years to build and cannot be easily transferred.

IBISWorld reports that hardware wholesaling in Australia alone generated $24.8 billion in revenue in 2024–25, with 4,924 businesses operating in the sector — a clear indication of the scale and commercial activity of just one import-heavy wholesale category. Machine tool wholesalers generated a further $9.7 billion in revenue across 1,924 businesses. Pharmaceutical wholesaling — including imported pharmaceuticals and health supplements — reached $26.1 billion across 1,469 businesses. These figures, aggregated across the full breadth of import categories, represent a sector with hundreds of billions of dollars in annual turnover and thousands of private businesses operating at various scales.

Export Trading Companies and Consolidators

Australia's export trading and consolidation sector reflects the country's position as a major producer of premium agricultural, food and beverage, health, and industrial products. Export trading companies serve as critical intermediaries between Australian producers — who may lack the market knowledge, language capability, regulatory expertise, or volume scale to access export markets directly — and overseas buyers, distributors, retailers, and end-users.

Australia is the world's fifth-largest wine exporter by volume, a top-five global supplier of health supplements to China (representing 14.9% of China's total health food imports in value terms in early 2024), a major exporter of premium agrifood products (beef, lamb, dairy, seafood, grains), and a significant supplier of industrial goods, minerals, and specialty chemicals to Asian markets. Australian agricultural, fisheries, and forestry exports reached $75.8 billion in 2024–25 — 60% higher in real terms than 20 years earlier — with China remaining the largest single destination.

Export trading companies that serve as the commercial bridge between Australian producers and overseas markets carry strategic value that is increasingly recognised by acquirers. A trading company with established buyer relationships in Shanghai, Singapore, or London, proven compliance and documentation capability, and a track record of consistent delivery represents years of relationship-building that cannot be easily replicated. These businesses are attractive to both domestic consolidators seeking to broaden their export capabilities and international buyers seeking to establish or strengthen their Australian supply chains.

The China Trade Reset: A Structural Shift for Export Businesses

No single development has had a greater impact on the forward earnings profile — and therefore the sale value — of Australian export businesses in recent years than the progressive normalisation of trade with China. The trade restrictions imposed by Beijing from 2020 to 2023, targeting Australian wine, barley, beef, cotton, lobster, timber, coal, and copper, disrupted export businesses across multiple categories and forced rapid diversification strategies that materially changed the commercial structure of affected exporters.

The resolution of these restrictions — achieved through a combination of diplomatic engagement and China's own commercial interests — has been largely completed by early 2026:

For M&A purposes, the critical implication of the China trade normalisation is that export businesses in these categories now carry a materially different — and more valuable — forward earnings profile than their recent financial history would suggest. Acquirers are increasingly valuing export businesses on normalised, forward earnings, recognising that COVID and restriction-period lows are not representative of ongoing trading capacity. A wine exporter or agrifood trading company whose revenue was materially impacted during 2020–2023 but has since rebuilt its China channel — or diversified into the UK, Japan, or Southeast Asia during the restriction period — is in a genuinely strong position to present a well-evidenced investment case to sophisticated buyers.

Free Trade Agreements: New Commercial Opportunities for Australian Traders

Australia's growing network of free trade agreements is creating tangible commercial advantages for both import and export businesses — and these advantages are increasingly being priced into acquisition valuations by buyers who understand the long-term structural tailwinds behind well-positioned trading businesses.

Australia–UK Free Trade Agreement (AUKFTA) — In Force May 2023

The AUKFTA, in force from 31 May 2023, is the most commercially significant new trade agreement for Australian exporters in decades. Over 99% of Australian goods exports to the UK benefit from immediate tariff elimination — including agricultural products (wine, honey, nuts, olive products, food supplements) and industrial goods (auto parts, electrical equipment, fashion goods). For Australian export trading companies in premium food, beverages, health products, and specialty manufactures, the AUKFTA has effectively eliminated tariff barriers on entry into one of the world's largest consumer markets: the UK has a nominal GDP of approximately USD 3.6 trillion and a consumer market with strong demand for premium Australian products.

The complementary effect of the AUKFTA with CPTPP membership — Australia, New Zealand, and the UK are now all CPTPP members — further amplifies the benefit, allowing intermediate goods from multiple CPTPP member countries to qualify for preferential tariff treatment under both agreements simultaneously. For export businesses with supply chains that span multiple CPTPP markets (e.g., using Japanese or Malaysian components in an export product), this creates a meaningful cost and compliance advantage.

CPTPP — Ongoing Benefits

Australia's January 2025 DFAT post-implementation review of the CPTPP concluded that the agreement has been "successful in expanding economic opportunities" and that investment stocks from CPTPP member countries have "increased and in some cases almost doubled." Specific commercial benefits include: zero-tariff barley exports to Mexico (previously prohibited by protective barriers); expanded dairy access to Canada; improved beef access to Japan. For Australian businesses operating in these categories — including agrifood trading companies and food ingredient importers — the CPTPP is delivering measurable commercial value that can be quantified in acquisition due diligence.

US Tariff Environment — Australian Advantage

The 2025 US "Liberation Day" tariffs — which set a 10% baseline tariff on Australian goods entering the US — are lower than tariffs imposed on key competitors including France, Italy, Greece (for wine), Japan (for wagyu beef and premium food products), and many Asian manufacturing economies. PwC analysis confirms that Australian exporters of specialty cheese, wine, and premium food products carry a meaningful tariff advantage over European and Japanese competitors in the US market. For Australian export trading businesses with US market exposure, this competitive positioning is a commercial advantage that acquirers are beginning to price into forward earnings assessments.

Recent M&A Transactions — 2022 to 2026

The following transactions span the import wholesale distribution and export trading segments — from ASX-listed consolidator acquisitions to private equity deals and strategic trade investments. Together they illustrate the commercial logic, deal structures, and valuation benchmarks being applied to Australian trading businesses across multiple product categories.

Valuation Benchmarks: What Are Import & Export Trading Businesses Worth?

Valuing an import wholesale or export trading business requires understanding the specific commercial characteristics of the business — not just its headline EBITDA. Customer concentration, supplier contract transferability, own-label revenue proportion, channel diversity, and the robustness of underlying trade relationships all affect the multiple that acquirers will pay. The following benchmarks are based on disclosed transaction data and industry research from First Page Sage's Q1 2025 distributor valuation report, BizBuySell wholesale and distribution benchmarks, and Australian transaction comparables.

Note: Multiples represent indicative ranges based on disclosed transaction benchmarks and third-party industry research. Individual valuations depend on specific financial performance, customer concentration, supplier contract transferability, management depth, and the quality of the sale process. Working capital intensity (inventory, receivables cycles) is assessed separately in import/export business valuations. The highest multiples are typically achieved through structured, competitive processes that surface multiple strategic and financial buyers simultaneously.

Key Valuation Factors: What Buyers Look For

Import and export trading businesses carry specific due diligence considerations that differ from other business categories. Understanding what buyers are examining — and preparing your business accordingly — can materially improve the multiple you achieve in a sale process.

Supplier Contract Transferability

For import distributors, the most critical due diligence question is whether exclusive or preferred agency agreements with overseas suppliers are transferable to a new owner — and under what conditions. Many supplier agency agreements contain change-of-control provisions that require the supplier's consent to assignment. Buyers will carefully review every key supplier agreement for these provisions, and undisclosed or unresolved assignment issues can derail transactions or result in significant price adjustments. Proactively engaging with key suppliers prior to a sale process — obtaining consent to assignment, or at minimum a letter of comfort regarding the relationship — is one of the most important steps a business owner can take in pre-sale preparation.

Customer Concentration

Import distributors with a diversified customer base — where no single customer represents more than 15–20% of revenue — command meaningfully stronger valuations than businesses where one or two major retail chains or distributors account for the majority of turnover. Buyers price in the risk that a key customer relationship may not survive an ownership change, and they discount the business accordingly when this risk is concentrated. Businesses that supply through national retail chains (Bunnings, Woolworths, Coles, JB Hi-Fi, Harvey Norman) often have formal trading agreements that are reviewed as part of the acquisition, and buyers will assess the probability of those relationships continuing post-acquisition.

Own-Label and Private-Label Products

An import business that sells exclusively third-party branded products is exposed to brand and supplier risk — if the overseas brand terminates the agency agreement or shifts to direct distribution, the revenue can disappear. A business with a significant own-label revenue component owns the brand and product specification — the revenue and margin are not dependent on any external supplier's commercial decisions. For this reason, own-label and private-label revenues are typically valued at a significant premium to agency distribution revenues. The Force Technology International transaction — where 48% of revenue was from own-label and private-label products — is a clear illustration of how own-label weighting can support a competitive valuation.

Country Diversification for Exporters

Export businesses with revenue concentrated in a single country — particularly those that were heavily exposed to China before the 2020–2023 restriction period — carry market concentration risk that buyers price into their valuations. The most valuable export businesses in the current market are those that diversified their country coverage during the restriction period (building real commercial relationships in the UK, Japan, Southeast Asia, or the Middle East) and now have both the restored China channel and a genuinely diversified export base. This combination — multiple active export markets, with no single country representing more than 40–50% of revenue — is what sophisticated acquirers are targeting.

Working Capital Management

Import and export businesses are typically more working capital intensive than service businesses — holding inventory, managing shipping lead times, and carrying accounts receivable from wholesale customers. Buyers will analyse working capital cycles carefully: how long inventory sits before sale, the average debtor days outstanding, and the reliability of supplier payment terms. A business with disciplined working capital management — low inventory write-off rates, consistent debtor recovery, and favourable supplier terms — will attract better financing terms from acquirer debt providers, which supports higher valuation bids. Conversely, businesses with bloated inventory (particularly of slow-moving or obsolete product lines) or stretched debtors face working capital adjustments in the purchase price mechanism.

Regulatory Compliance and Product Registration

Import businesses — particularly those handling food, health products, chemicals, or electronics — must comply with TGA, FSANZ, ACCC, and customs compliance requirements. Export businesses selling into China, Japan, or the EU face product registration and market access requirements in their destination markets. Buyers will assess whether the business has a clean compliance record, whether product registrations are current and transferable, and whether there are any outstanding product liability, customs, or regulatory issues. Proactively auditing your compliance position before entering a sale process avoids surprises in due diligence.

Demand Drivers: What Is Fuelling M&A Activity

1. Distribution Platform Consolidation

The most consistent and active driver of M&A in the Australian import distribution sector is the systematic consolidation of fragmented wholesale distribution by ASX-listed and private equity-backed platforms. Stealth Group Holdings' strategy — acquiring Force Technology (consumer electronics), Hardware & Building Traders (hardware/industrial), and securing exclusive distribution for multiple international tool and product brands — illustrates the roll-up playbook: acquire businesses with established trade networks, add complementary product categories through further acquisitions or supplier agreements, and build a multi-category national distribution platform that achieves scale advantages in logistics, procurement, and customer service. For owners of mid-sized import distribution businesses, this means a ready supply of well-capitalised strategic buyers who are actively seeking businesses that complement their existing category coverage.

2. The Australian Dollar and International Buyer Interest

The Australian dollar has recovered meaningfully in 2026, trading around USD 0.71 after an extended period of weakness in 2024–2025. This has two effects on M&A in the import/export sector. For import businesses, the stronger AUD reduces input cost pressure on imported goods — which can improve margin profiles and make earnings more predictable heading into a sale process. For international acquirers, the AUD at USD 0.71 remains below parity, meaning USD-, GBP-, EUR-, or SGD-denominated capital still buys Australian assets at a modest discount relative to parity. While the foreign exchange advantage is less pronounced than it was at USD 0.62–0.65, it continues to support international buyer interest — particularly for businesses with enterprise values in the $5M–$30M range where even a modest currency advantage can be the deciding factor in a competitive process.

3. Supply Chain Diversification and Nearshoring

The COVID-era supply chain disruptions, combined with geopolitical tensions affecting China-dependent supply chains, have accelerated the global trend toward supply chain diversification. Australian import businesses with established relationships across multiple Asian manufacturing locations — Vietnam, Indonesia, Malaysia, Thailand, and India — in addition to China are viewed as more resilient and strategically valuable than those concentrated in a single manufacturing country. Acquirers are specifically looking for businesses that have already navigated supply chain diversification, as this reduces post-acquisition integration risk and demonstrates operational sophistication. Businesses that shifted sourcing during the COVID disruption period — and maintained product quality and delivery reliability — have built genuine competitive advantages that are being rewarded in M&A valuations.

4. Asian and European Strategic Investment in Australian Trade

International strategic buyers — particularly from China, Japan, South Korea, Singapore, India, and Europe — are increasingly active acquirers of Australian businesses with established trade capabilities. Chinese buyers target Australian agrifood, health, and premium consumer product businesses to secure reliable supply chains and Australian brand equity for their home markets. Japanese buyers (COFCO, Marubeni, Mitsui, and others) are long-term investors in Australian agrifood export capacity. Indian buyers — exemplified by APSEZ's acquisition of NQXT — are expanding into Australian export infrastructure. European buyers (BHJ's acquisition of Staughton Group) are acquiring Australian businesses for both market access and proprietary technology. For Australian business owners, this international buyer interest broadens the competitive field in any sale process — and experienced M&A advisors with international buyer network access can be the difference between a domestic-only process and a genuinely competitive global auction.

5. Growth in Australian Health and Natural Product Exports

Australia's reputation as a producer of clean, safe, natural health and food products continues to drive strong international demand. Australia is the second-largest supplier of health supplements to China — representing 14.9% of China's total health food imports by value in the first quarter of 2024 — ahead of Germany and behind only the US. With China's dietary supplement import market at USD 1.65 billion per quarter and growing at 7.3% annually, the runway for Australian health and natural product exports remains substantial. Export businesses in this category — whether vitamins and supplements exporters, natural therapeutics consolidators, infant formula trading companies, or health food exporters — are operating in a category with both strong underlying demand and premium valuation multiples, reflecting the brand equity and compliance investment that Australian health export businesses represent.

Who Is Buying Australian Import & Export Businesses?

Understanding the buyer universe is critical to structuring a sale process that achieves the best possible outcome. Import and export businesses attract a diverse range of buyers — and the right buyer for your business depends on your product category, business scale, trade relationships, and the commercial assets you carry.

ASX-Listed Distribution Consolidators

Stealth Group Holdings (ASX: SGI) is the most active publicly visible example, but the broader ASX-listed wholesale and distribution sector includes GWA Group (plumbing and hardware), Reece Group (plumbing distribution), DuluxGroup (paints and building products), and various industrial and commercial supply companies. These buyers pursue acquisitions that add product categories, supplier relationships, national customer networks, or geographic coverage to their existing platforms. They have established capital markets access, clear acquisition frameworks, and the ability to move efficiently through due diligence — making them dependable, well-resourced buyers for import distribution businesses in their target categories.

Private Equity Roll-Up Platforms

Private equity interest in Australian wholesale distribution and trade businesses has grown significantly in the past three years. PE platforms are building multi-category distribution businesses through serial acquisitions — typically targeting businesses with $1M–$10M EBITDA, strong recurring revenue, and management teams that can remain in place post-acquisition. PE buyers are typically well-capitalised, process-oriented, and motivated to complete transactions efficiently — but they will conduct thorough due diligence on financial quality, customer concentration, and supplier contract risk. For sellers who want to retain some involvement in the business post-sale or who are open to an earn-out structure, PE buyers often provide flexible deal structures that strategic buyers cannot.

International Strategic Buyers

International buyers from Asia, Europe, and North America are increasingly active acquirers of Australian import and export businesses. Chinese buyers — including pharmaceutical groups, health retail chains, food companies, and e-commerce platforms — seek Australian export businesses with established product registration, verified supply chains, and Australian brand credentials. Japanese trading houses (Itochu, Marubeni, Mitsubishi, and Mitsui have long-standing Australian agricultural investment) seek agrifood export businesses. European companies seek Australian distribution platforms for their own product ranges — acquiring an existing distributor rather than building distribution from scratch. For business owners, the presence of international buyers in a sale process can materially increase competitive tension and valuation outcomes.

Offshore Buyers and Currency Dynamics

At AUD/USD 0.71, an international buyer whose capital is denominated in USD, GBP, EUR, or SGD still acquires Australian assets at a meaningful discount to parity. While the currency advantage has narrowed from the lows of 2024–2025, it remains a relevant factor in competitive sale processes — particularly for import and export businesses whose commercial value (supplier relationships, customer networks, brand assets) is not easily replicated from outside Australia. For sellers, actively marketing a business to international buyers — not just domestic acquirers — remains a meaningful way to broaden the buyer field and increase competitive tension in any sale process.

Preparing Your Import or Export Business for Sale

The following preparation steps are specific to the import wholesale and export trading sector — reflecting the due diligence focus areas that buyers consistently raise in transactions involving these business types.

Audit and formalise your supplier agreements. Review every key supplier or agency agreement for change-of-control provisions, assignment requirements, minimum purchase obligations, and term and renewal clauses. For exclusive agency agreements, proactively engage with your overseas suppliers to obtain consent to assignment or a letter of support for a change of ownership process. Acquirers will not proceed past due diligence without clarity on the status of key supplier relationships — and resolving this before entering the market avoids the delays and price risks that arise when it surfaces mid-process.

Document and verify your customer list. Prepare a detailed active customer list — with revenue by customer for the past three years — so that buyers can assess customer concentration risk and the diversification of your trade base. For import businesses with national retail distribution, ensure that your trading terms with major retailers are documented and current. For export businesses, document each active export market, buyer relationship, and order history. The more transparent and well-organised your customer data, the shorter and cleaner the due diligence process will be.

Organise your product compliance and registration documentation. For businesses handling regulated product categories (food, health products, chemicals, electronics with electrical safety standards, or any TGA-regulated products), compile a complete compliance register before entering a sale process. This includes: current product registrations, relevant APVMA, TGA, or FSANZ compliance documents, labelling compliance history, any product recalls or complaints history, and import permits or customs compliance records. For export businesses selling into regulated markets (China, Japan, EU), document every product registration in every destination country — these registrations are valuable commercial assets that buyers will assess carefully.

Clean up your working capital position. Conduct a thorough inventory review — identify and provision for slow-moving, obsolete, or aged stock that is unlikely to be sold at full margin. Clear any outstanding debtor accounts where recovery is uncertain. Buyers will apply normalisation adjustments to working capital in any transaction, and excess inventory or aged debtors will result in downward price adjustments. Starting this process 12–18 months before a planned sale gives you time to clear problematic stock without creating large write-off events in your most recent trading year.

Build a credible forward earnings narrative. For export businesses that were impacted by China trade restrictions, US tariff changes, or COVID-period disruptions, the most important preparation step is building a clear, well-evidenced narrative about normalised and forward earnings. This means preparing a management forecast that demonstrates what the business earns in a normal trading environment — with supporting evidence from the current trading recovery period, FTA access improvements, and China normalisation benefits. Buyers who understand the business will value it on normalised earnings — but only if you present the narrative clearly and with credible supporting data.

2026 Market Outlook: Timing, Trends, and Opportunities

The convergence of China trade normalisation, new free trade agreement access (UK, CPTPP), strategic buyer consolidation, and sustained international buyer interest has created a favourable environment for Australian import and export business owners considering a sale. The alignment of multiple structural tailwinds — each of which independently would support a more active buyer market — is creating a window that experienced M&A advisors view as genuinely exceptional for well-prepared sellers.

The Bain & Company M&A report for 2025 confirmed that global deal activity rose 40% in value to an estimated $4.9 trillion — the second-highest level on record — with similar gains across strategic, private equity, and venture capital acquirers. Australian transaction activity tracked global trends, with Ashurst's 2025 public M&A report noting that declining inflation, moderating interest rates, and available debt and equity funding were all expected to drive a resurgence in deal-making — trends that have continued into 2026. The wholesale distribution and trade sector is a direct beneficiary of this improved financing and deal-making environment.

For import distribution business owners, the Stealth Group Holdings acquisition strategy — and the broader pattern of ASX-listed and PE-backed consolidators pursuing bolt-on deals — confirms that active, well-capitalised buyers exist across a wide range of product categories and business sizes. Businesses that might have received limited interest five years ago, because their category or scale did not meet a single buyer's criteria, are now fitting into multiple consolidators' acquisition frameworks as the buyer universe broadens.

For export trading business owners — particularly those with China market exposure — the normalisation window creates a specific timing opportunity. The recovery of Australian export earnings to China is now underway, but the full forward earnings benefit of the restored relationship is not yet fully reflected in recent financial history. Selling in 2026 — while the recovery is clearly demonstrated but before the restored earnings are fully baked into historical averages — allows sellers to present both the proven recovery evidence and the forward earnings case. In two to three years' time, the normalisation benefit will be fully priced into historical performance and will no longer be a differentiating argument. The advisory premium is available now.

Frequently Asked Questions

Is now a good time to sell an import or export trading business in Australia?

Yes — the combination of China trade normalisation, new FTA access (AUKFTA, CPTPP), active distribution consolidators, private equity interest, and continued international buyer interest has created an unusually active buyer market. Export businesses with restored China channels are benefiting from forward earnings recovery that acquirers are pricing into valuations now. Import businesses are being pursued by ASX-listed consolidators building national distribution platforms. The current window — before the full earnings recovery is reflected in historical averages and while interest rates and deal financing conditions remain supportive — is genuinely favourable for well-prepared sellers.

What types of import and export businesses attract the most buyer interest?

Import businesses with exclusive or preferred agency agreements, established national trade networks (500+ active customers), and own-label product ranges attract the strongest interest and the highest multiples. Export businesses with diversified country coverage, established product registrations in key markets, and strong buyer relationships in China, the UK, or Southeast Asia are particularly sought after. Health and natural product exporters, premium agrifood trading companies, and specialty food/beverage exporters with Australian brand equity carry a premium valuation tier reflecting international strategic buyer interest.

What EBITDA multiples do Australian import and export businesses achieve?

Indicative ranges: small owner-operated import businesses without exclusive agencies, 2.0x–3.5x; established distributors with exclusive agreements and 500+ customers, 3.5x–5.5x; import businesses with significant own-label revenue, 4.0x–6.5x; consumer goods importers at the $1M–$3M EBITDA range, average 6.6x (First Page Sage Q1 2025); importers and exporters combined average 6.7x at the same EBITDA range; national platforms with management teams and supplier diversity, 5.5x–8.0x+. Premium health/agrifood exporters with Chinese/Asian strategic buyer interest can achieve 4.0x–7.5x.

How has the China trade normalisation affected the value of export businesses?

It has materially improved forward earnings visibility for businesses in wine, barley, beef, lobster, dairy, and health products — with wine tariffs removed March 2024, barley August 2023, lobster December 2024, and dairy final tariff elimination January 2026. Acquirers are valuing export businesses on normalised forward earnings — not restriction-period lows — creating a gap between recent historical performance and current market value that experienced advisors can navigate to achieve better outcomes for sellers.

Who is buying Australian import and export businesses in 2026?

ASX-listed distribution consolidators (Stealth Group, GWA Group, Reece Group and others); private equity roll-up platforms building multi-category distribution businesses; international strategic buyers from China, Japan, Europe, India, and the US seeking Australian trade platforms, brand equity, or supply chain access; and owner-operator buyers from within the industry for smaller businesses. With the AUD at around USD 0.71, international buyers retain a purchasing power advantage below parity, broadening the competitive field particularly for businesses with $3M–$15M enterprise values.

How do I find out what my import or export business is worth?

An obligation-free consultation with an experienced business sale advisor is the most reliable starting point. Import and export businesses have specific valuation nuances — supplier contract transferability, customer concentration, own-label IP, working capital intensity, and trade relationship robustness — that require specialist understanding. Morgan Business Sales works with wholesale distribution and trading business owners across all states and all business sizes to provide a clear, evidence-based view of what your business could achieve in the current market.

Disclaimer: This report has been prepared by Morgan Business Sales for general informational purposes only. It does not constitute financial, legal, or investment advice. Transaction values, EBITDA multiples, and market data are sourced from publicly available information and industry research and should not be relied upon as a guarantee of future performance or value. Business owners considering a sale should seek independent professional advice. All dollar values are in Australian dollars (AUD) unless otherwise stated.

Sources

• Australian Bureau of Statistics — International Trade Supplementary Information, Financial Year 2024–25: Total Exports $646.6B, Imports $629.9B (December 2025)
• Australian Bureau of Statistics — International Trade in Goods, March 2026: Imports $45.77B in March, China imports $120B in FY2024–25
• Stealth Group Holdings — Stealth Acquires Hardware & Building Traders (HBT) for A$22M; FY28 Guidance Upgraded (November 2025)
• Stealth Group Holdings — Acquisition of Force Technology International for A$9.5M; <4.0x EV/EBITDA (June 2024)
• China Briefing — China-Australia Trade Reset: What It Means for Investors in 2026 (May 2026)
• Australian Government DFAT — Live Rock Lobster to China Trade Resumes Effective Immediately (December 2024)
• Export Finance Australia — Australian Wine Exports to Recover After China Lifts Anti-Dumping Duties (April 2024)
• Wine Australia — Australian Wine Export Report 2025: Total Exports A$2.34B; China Volume +53M litres post Tariff Removal (December 2025)
• Metcash Limited — FY25 Full Year Results Presentation: Superior Foods Acquisition A$412.3M EV Completed 3 June 2024; Major Contracts ~$240M p.a.; Synergies and Integration Progress (June 2025)
• Pernod Ricard — Successful Completion of Sale of Strategic International Wine Portfolio to Australian Wine Holdco Limited (Vinarchy); Jacob's Creek, St Hugo, Orlando, Brancott Estate Included; Completed April 30, 2025
• EY — UK-Australia Free Trade Agreement (AUKFTA): 99%+ of Australian Goods Exports Benefit from Immediate Tariff Elimination (In Force May 2023)
• DFAT — CPTPP: Comprehensive and Progressive Agreement for Trans-Pacific Partnership; UK Accession Effective December 2024
• PwC Australia — What Do US Liberation Day Tariffs Mean for Australian Businesses? 10% Baseline; Advantage Over European Competitors for Wine, Cheese, and Premium Agrifood (August 2025)
• First Page Sage — Distribution Company EBITDA & Valuation Multiples: Consumer Goods 6.6x, Importers & Exporters 6.7x (Q1 2025, February 2025)
• BizBuySell — Wholesale & Distribution Business Valuation Benchmarks: Average Earnings Multiple 2.89x; 2024 Peak +10% (2025)
• Clarkston Consulting — 2025 M&A Deal Trends in Consumer Products: BHJ/Staughton Group (~$100M majority stake, March 2024) (April 2025)
• DAFF / ABARES — Snapshot of Australian Agriculture 2026: Agricultural Exports $75.8B in 2024–25; China Largest Export Destination (February 2026)
• Asia Food & Beverages — Rising Imports of Health/Dietary Supplements into China: Australia 14.9% Share, Second Only to US (August 2024)
• Bain & Company — Looking Back at M&A in 2025: Global Deal Activity Up 40% to $4.9 Trillion, Second-Highest on Record (December 2025)
• Ashurst — Australian Public M&A Deal Report 2025: Low AUD, Available Debt/Equity Funding, and Moderating Rates to Drive Deal Resurgence
• IBISWorld — Hardware Wholesaling in Australia: Revenue $24.8B, 4,924 Businesses (2025)
• IBISWorld — Machine Tool Wholesalers in Australia: Revenue $9.7B, 1,924 Businesses (2025)