Close · Food & Beverage

Representations & Warranties Drafting for Food & Beverage Independent Sponsors

Drafting Representations & Warranties Drafting on food and beverage deals, with the structure protection and capital connectivity an independent sponsor actually needs.

EV range $10M to $120M EV EBITDA $2M to $20M Audience Buy-side / Sponsor
The deal context

Food & Beverage deals in the lower middle market run a specific playbook. Representations & Warranties Drafting is where the structure either holds or starts to leak.

The typical food and beverage platform sits at $10M to $120M EV with EBITDA in the $2M to $20M range. The thesis runs on CPG roll-up or co-packing platform with regional bolt-ons. Treat trade spend like a working capital item, not a marketing line. The valuation moves accordingly.

The moves

How Representations & Warranties Drafting actually gets structured.

  1. Anchor on a modern PE-style rep package, not an asset-purchase boilerplate.

  2. Distinguish fundamental reps from general reps in survival and cap structures.

  3. Negotiate knowledge qualifiers to defined-person knowledge, not constructive knowledge.

  4. Coordinate the rep package with the R&W insurance carrier's underwriting.

  5. In food and beverage, layer in co-pack capacity agreement re-papered as part of the Representations & Warranties Drafting workstream.

The common mistake

Drafting reps without reading the disclosure schedules. The schedules are where the risk actually lives.

Jason's take
"Reps and warranties are a risk allocation. Draft them like risk allocation."
Jason Powell · Representations & Warranties Drafting
Capital after close

The deal is one thing. The capital that opens up after close is another.

After close, the call list for refinancing, recapitalization, and growth equity gets short and known. Jason carries that list.

MONTH 18
Senior refi
MONTH 24
Dividend recap
MONTH 36
Growth equity
YEAR 4–5
Strategic exit
WORK WITH JASON

Bring the food and beverage deal. Get Representations & Warranties Drafting done right.

Direct counsel from a securities and M&A attorney with billions in structured transactions, the independent-sponsor-native playbook, and the capital markets network that opens up post-close.