Kilcoy Global Foods has announced plans for an IPO in New York. The Australia-based meat group is strategically positioning itself to capitalize on the growing demand for protein products in both the US and Asia.
With operations in Australia, the US, and China, this investor-backed Australian group supplies “fresh, natural, healthy, and convenient” meat products to customers in over 40 countries.
The company’s protein-focused portfolio features brands such as Kilcoy Diamond, Ebony Black Angus, Carrara Wagyu, Jade Pure Wagyu, Kilcoy Nutrition, Hardwicks Lamb & Beef, Ruprecht, and TruVida.
Kilcoy’s filing with the US Securities and Exchange Commission outlines that the IPO proceeds will be allocated for “potential strategic investments and acquisitions,” capacity growth, digital transformation, automation, and general corporate purposes.
Based in Queensland, Kilcoy aims to list its American depositary shares on the Nasdaq stock exchange under the ticker symbol KGF and is currently backed by the China-based private-equity firm Hosen Capital.
Citigroup and Morgan Stanley will serve as underwriters for the offering.
Kilcoy operates with eight facilities across Australia, the US, and China, while also expanding its footprint into markets such as Japan and South Korea.
For the year ended December 31, the company reported revenue of $2.19 billion, reflecting a 17.3% increase year-over-year, according to a regulatory filing dated June 16.
EBITDA surged by 43.5% to $137.7 million, while net income increased by 74% to $60.4 million.
In the first quarter of 2025, revenue rose by 5.8% to $514.2 million, with EBITDA nearly doubling to $27.3 million from $13.8 million. Additionally, net income soared from $51,000 to $6.8 million.
Kilcoy’s expansion strategy includes several acquisitions, such as Ruprecht Co. in the US, acquired in 2014, and Weidao Foods in China the following year. Subsequently, Greenswift in China joined the group in 2019.
In Australia, Kilcoy acquired grass-fed beef processor Hardwicks in 2021 and purchased another facility in Lance Creek, Victoria, the following year.
Last October, Kilcoy made headlines by acquiring an Australian burger factory previously owned by US meat giant Tyson Foods.
