Steadfast Group has announced the acquisition of control in Victual, a leading food and beverage risk and insurance advisory firm, along with its sister business @ Risk Underwriting, a specialist underwriting agency focused on property, liability and product recall solutions for the food and beverage sector.
According to a Steadfast media release, Sydney headquartered Victual is widely recognised for its expertise in risk advisory and broking within the food and beverage industry, while @ Risk Underwriting complements that capability through specialist underwriting solutions across key risk classes, particularly product recall insurance.
The move fits into Steadfast’s broader acquisition strategy. The broker acquired 100% of H.W. Wood in FY25 and completed the strategic acquisition of a majority stake in US-based Novum Underwriting Partners in August 2025.
“Victual and @ Risk Underwriting bring exceptional capability in a highly specialised sector," said Steadfast CEO Robert Kelly (pictured). "The acquisition will immediately strengthen our offering by introducing dedicated food and beverage segment expertise, enhanced risk management capability, and through @ Risk Underwriting, an expanded suite of property, liability and product recall products for the Steadfast broker network and their clients”.
Victual directors Peter McGee and David Goodall said the deal marks a significant milestone in the businesses’ growth journey and positions them to accelerate the deployment of services and enhance client support.
Both Victual and @ Risk Underwriting will retain their existing brands and continue to operate as standalone businesses under McGee and Goodall, who together bring more than 55 years of experience across major organisations in Australia and the UK.
