Food and feeding China's emerging middle class is one investment theme that will not go away anytime soon.
Live exporter Wellard tapped into the theme late last year, raising $334 million through UBS, Deutsche Bank and Morgans to list with a $556 million market capitalisation. 
While Wellard's debut failed to set the world alight - its shares are down 15 per cent since listing - it has not stopped bankers, analysts and investors looking for similar companies to take to public equities investors.
The big one is JBS Australia - owned by the world's largest meat processor, Brazil's JBS SA.
JBS SA's shares have had a shocking six months, down 35 per cent, with the market paying a meagre 5.5 times forecast 2016 financial year profit for the stock.
It is understood the company is considering changes to its corporate structure in an effort to return the stock to favour and potentially reduce its substantial $15 billion debt pile.
One option may be to spin off its local arm, JBS Australia, which owns seven feedlots and 15 meat processing facilities across Queensland, NSW, South Australia and Tasmania.
JBS Australia is a major meat exporter to the likes of the United States and China and a leading smallgoods producer following its $1.45 billion acquisition of Primo Foods in   November 2014.
IBISWorld analysts expected it to record $4.4 billion revenue in 2015, which would make it the largest meat processor in Australia with a 24.1 per cent market share.
JBS's Australian assets are wrapped up in its US beef division - which has operated at a 3.5 per cent to 4 per cent earnings margin in recent quarters - along with the New Zealand business.
Analysts reckon the Australian and New Zealand business could be worth close to $2 billion as a separately listed company.
Investment bank UBS would know the assets and industry well after handling Wellard's float which attracted JCP Investment Partners and Sir Michael Hintze's CQS at 12-times forecast profit, while Morgan Stanley and JPMorgan are close to JBS globally. Rothschild Australia steered the Brazilian company through its Primo acquisition.
Of course, any deal would depend on the state of equity markets, with recent ructions not boding well for the IPO market. JBS Australia would also not be alone in marketing such a food and exports story, with Affinity Equity Partners' Tegel Foods waiting in the IPO pipeline and TPG expected to consider floating its chicken business, Inghams Enterprises.