Melbourne dealmaker David Williams just can’t seem to stay away from food.
His firm, Kidder Williams, is in the market for cold pressed raw milk business MadeByCow, drumming up interest in a private funding round aimed at ramping up its presence in supermarkets.In marketing to potential investors, the bankers said MadeByCow was run by former Swisse executive Wade Porter and had already secured backing or expertise of Bega Cheese, Harris Farms, Roc Partners and ex-Swisse bossIt’s now after a new strategic investor with fresh skills and cash.
This, MadeByCow told potential investors, gives its milk a stronger nutritional profile with more natural enzymes and vitamins. The milk is produced free-range, has a six-week shelf life and comes in three variants .The milk also sells for a pretty penny: $5.35 for 1½ litres at Woolworths, while 3L of house-brand pasteurised milk costs about $4.
It recorded $3.2 million revenue in the 2021 financial year, which it tipped to grow to $35.3 million by FY25 as it upped production, brand awareness, sales footprint and margins.Jesse Marlow It also made a pitch on its capital expenditure creds, saying it had spent $9 million on two HPP machines and a bottling line, which had upped its annual production by 191 per cent in the past two years.MadeByCow’s milk is stocked in 490 Coles stores, another 190 Woolworths and 750 independent retailers, on Australia’s east coast. It makes no revenue from the Northern Territory, only 2 per cent from Western Australia and 4 per cent from South Australia.
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