Welcome to Food & Drink Business PLAY. Here are our top stories for February – from food safety and major retail scrutiny, to a big sustainability investment and a new global player backing an Australian beverage business.

Our Top 100 2025 edition of Food & Drink Business magazine is more than the annual flagship Top 100 Report. Industry leaders reflect on the year past and the one ahead, we provide our annual news review, M&A wrap-up, and all the executive moves, and a Roman-inspired sports drink, Posca, is our final Rising Star for 2025.

Food & Drink Business and IBISWorld present this year’s Top 100 companies, a ranking of Australia’s largest food and drink companies by revenue. This year reflects a sector positioning itself for immediate term viability and long-term competitiveness.

Sea Forest triples SeaFeed revenue

Sea Forest has reported strong first-half revenue growth and accelerating commercial traction for its methane-reducing feed additive, SeaFeed, as the company builds scale following its ASX listing in November.

BCA Report: Australia slips in global investment race

Australia has slipped to 21st out of 42 countries in the Business Council of Australia’s (BCA) 2025 Global Investment Competitiveness Index, down from 17th in 2019, highlighting growing structural pressures that directly affect capital-intensive sectors such as food and beverage manufacturing.

Lineage, Flinders Port Holdings tackle fruit export challenges

International cold storage organisation, Lineage, is working with logistics and container terminal services group, Flinders Port Holdings (FPH), to open a DAFF-accredited cold storage facility in South Australia.

Stomping Ground opens EOIs for OnMarket raise

Melbourne-based independent brewery, Stomping Ground Brewing Co., has opened expressions of interest for its upcoming equity raise through OnMarket. The company is now ready to scale up, as it celebrates a decade of beer.

Coles supermarkets power ahead, liquor under pressure

Coles Group has delivered solid first-half earnings growth, driven by strong supermarkets performance and accelerating eCommerce, while reported profit declined following a significant item linked to the Federal Court judgment in the Fair Work Ombudsman proceedings.

Noumi lifts revenue and underlying earnings

Noumi has reported improved first-half revenue and underlying earnings growth, with record sales from its plant-based business and a strong turnaround in Dairy & Nutritionals.

Packaging News

APCO CEO Chris Foley has delivered a candid message to members: Australia’s packaging targets were missed, the system settings are flawed, and reform needs to embrace practical, enforceable change.

As part of a $20m long-term investment in Tasmania, Visy has opened a new Packaging Hub in Devonport, to supply cardboard packaging to dairy, brewery, berry and fresh produce customers across the state.

The PKN Women in Packaging Awards returns for 2026, inviting nominations to recognise the women delivering impact, innovation and leadership across the Australasian packaging value chain.