A confidential way for owners of Singapore restaurant groups and F&B brands to understand what the business is worth and explore a sale. No listing, no kitchen gossip, and nothing reaches your staff, landlords or suppliers until you decide.
A private read on your number. No commitment, no call required, nothing on the record.
Most owners we speak to have spent years building what they have. When they start to think about selling, the same three worries surface. We take all three off your plate, in this order.
In F&B, word travels from one kitchen to the next within days, and a rumour can unsettle staff and landlords at once. Nothing is listed and nothing is named, so they hear it from you, on your timing.
Most owners guess at their number. We start with a clear, evidence-based view of value and prepare your financials so a buyer pays for what the group is genuinely worth.
A signed offer is the easy part. We run the process to completion, including the awkward steps, so it holds together to the end rather than drifting and dying.
The promise should feel concrete, not like a slogan. Here is exactly how your name, your team and your diners stay protected until you are ready.
Your group is shown only after a buyer has signed an NDA and you have approved them by name. No open marketplace, no broker board.
Early documents carry a reference code, not your name or address, so nothing identifying circulates while interest is being gauged.
You approve every step and every buyer before they learn who you are. The process runs at your pace, never ahead of it.
F&B groups are valued on what the outlets earn once the owner is paid a market salary and the one-offs are taken out. We normalise the accounts, separate the outlets that carry the group from the ones that do not, and present earnings a buyer can believe.
We normalise your financials so the buyer sees the true earning power of the group, not the owner's personal lens on it.
Buyers look at each outlet on its own, then at what holds the group together. A central kitchen, a brand known beyond you, and catering or wholesale income can lift the multiple. We evidence each of them.
Staggered lease expiries, SFA licences, halal certification where it applies and how much of the menu lives in your head all move the price. We get ahead of each before a buyer raises it.
Businesses like yours in Singapore typically sell for 3x to 4x normalised EBITDA.
Groups with a central kitchen, a brand recognised beyond the founder and catering or wholesale income sit towards the top of the range, capped at around 6 times, while single outlets usually sell for much less, often just a takeover fee for the lease and fit-out. The upper end, around 5x, usually needs competing buyers and a business that runs without you. These are conservative ranges from Singapore SME transactions, not a valuation.
We approach listed and regional F&B groups, franchise operators and private investors quietly, the buyers who read outlet numbers properly and pay for a group that runs without its founder.
Landlord consent and lease assignment, SFA licences, halal certification, foreign worker quotas, recipes and supplier terms are handled early, not surfaced late.
Your name stays out of the market until an NDA is signed. No public listing, no broker board, nothing your team can stumble on.
You work directly with Ben from start to finish. No being handed to a junior once the engagement begins.
Our job is a deal that closes, not a listing that lingers for a year. We manage the path from offer to a clean close.
We read the things a generalist broker misses, the dependencies a buyer probes and that quietly cut a price if ignored.
The team behind 70+ owner-operated transactions across Singapore, now extending the same playbook to established businesses across sectors.
Start with a short questionnaire by email, under NDA. For a fixed fee, we tell you honestly what your group is worth and what would lift it.
If a sale fits, we agree the approach. If the timing is wrong, we can stay on as your adviser and get the business ready to sell.
We approach the right buyers discreetly, each NDA-gated and approved by you. Never the open market.
We manage due diligence, licence and lease transfer, and the difficult conversations, through to signing.
Off-market. Nothing is publicly listed and nothing carries your name. Early materials use a reference code rather than your brand name and outlet addresses, buyers see identifying details only after signing an NDA you have approved by name, and you decide when your team, landlords and suppliers are told. Landlord consent is usually needed at some point, so we plan when and how that conversation happens rather than letting it happen by accident.
An F&B group is priced off normalised earnings, not revenue. That means a market salary for every role you fill, market rent where you own the premises, and removing one-offs such as COVID-era grants or a delivery spike. Outlet profitability, lease tenure, a central kitchen and catering or wholesale income move the number most. Owner-operated F&B groups with three or more outlets in Singapore typically change hands at roughly 3 to 4 times normalised EBITDA, with up to about 5 to 6 times only for groups with a central kitchen, a recognised brand and competing buyers. We give you a valuation in writing, under NDA, for a fixed fee credited against our success fee if you sell with us.
Mostly listed and regional F&B groups adding brands or outlets, franchise operators looking for a concept to roll out, and private investors and family offices backing an experienced operator. Groups pay for systems, a central kitchen and a brand that travels. Investors pay for a management team that stays. Each values the same business differently, which is why a quiet, competitive process usually beats accepting the first approach.
It depends on how the deal is structured. In a sale of shares the leases usually stay with the company, though many leases still require landlord consent to a change of control. In a sale of the business and assets they generally need to be assigned or re-signed, which means the landlord has to agree. Remaining tenure matters too, because a buyer will discount an outlet with a short lease. We review every lease early, with your lawyer, so consent and expiry dates support the price rather than stall the deal.
Our sale fee is success-based and paid on completion: no sale, no fee. A written valuation is a separate fixed fee, agreed and paid before we start, and credited in full against our success fee if you sign with us within 6 months and the sale completes. The first conversation, a short questionnaire and our written recommendation on which valuation fits are free and carry no obligation.
Yes, but it shapes the structure. Buyers want recipes documented, a head chef or kitchen team who can cook without you, and a central kitchen or written procedures that keep the food consistent across outlets. Where the founder is still the key chef, buyers usually ask for a handover period, retention terms for key staff or part of the price to be deferred. SFA licences and halal certification may also need to be applied for again or updated on a change of ownership, depending on the structure, so check with your lawyer and the relevant agency early.

Clearmere is confidential M&A advisory for owner-operated SMEs, typically S$1m to S$20m in revenue. The lower-mid market the large firms overlook and generalist brokers tend to fumble. You get senior attention on your sale, not a junior and a template.
Ben takes on a small number of mandates at a time, personally. The 70-plus deal record sits with the advisory team and is honest experience across owner-operated Singapore businesses, now being extended to established businesses across sectors.
Your valuation is private, and there is no obligation to sell. If it is not the right time, you keep the report and have told no one.
Start with a short confidential questionnaire by email. No commitment, no call required, and nothing reaches your team or the market until you decide it should.
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