Kilcoy Global Foods (KGF) is an Australia-based protein processing company that buys raw inputs — primarily beef livestock, lamb, and seafood — and converts them into finished food products for foodservice operators and retailers across more than 40 countries. KGF's product range spans raw cuts through to fully cooked, ready-to-eat items like sous vide chicken, beef patties, and meal solutions. The company operates eight production facilities: five in Australia, one in Mundelein, Illinois, and two in China. KGF organizes its business into three segments: Foodservice (~49% of revenue), Retail (~41%), and Others (~10%, primarily co-products like hides and tallow). Foodservice customers include large quick-service and fast-casual chains, while retail customers include global club store chains. KGF's economics are driven by the spread between raw material input costs and selling prices — raw materials run roughly 90% of sales — making margins highly sensitive to procurement costs. Higher-value "purpose processed" products like sous vide items and cooked patties carry better margins than commodity cuts, so shifting product mix toward these items is a key profitability lever. KGF's growth strategy centers on expanding its foodservice and retail customer base, launching more value-added products, and using M&A to add processing capacity — most recently acquiring Coominya beef patty operations from Tyson Foods Australia in October 2024.