Four Decades of Earnings. A Team That Runs It. $645k EBITDA

Most businesses at this level need you in them. This one doesn't. For more than forty years this Auckland business has operated from the same site, under the same name, with a team that has stayed. Ten staff. Around 147 years of combined service between them. Average tenure close to fourteen years. A general manager who knows a sale is coming and wants to stay on. The current owner works roughly twenty hours a week, almost entirely on admin and accounts. That role could be filled by a capable part-time administrator three days a week. This is not a job with a business attached to it. The numbers have held through Covid, the disruption that followed, and one of the toughest trading periods this sector has seen in a generation: • Revenue around $2.75m • Gross margin steady at 40 to 42 percent across four years • Normalised EBITDA of $645k • Three-year average adjusted EBITDA of $655,000 (2026 $645k, 2025 $664K, 2024 $663k) Read those EBITDA figures again. That is not luck, and it is not a market that has been kind. What you are buying is a proven earner at the bottom of its cycle, with a long lease available on standard terms, established trade relationships including a national chain, an in-house production capability that competitors have to outsource. As conditions improve, the operating leverage is already built and paid for.