I'm looking at a FMCG wholesaler/distributor that acts as both a white label supplier to large retailers and has its own-branded products which are supplied to different retailers. The product gross margins appear relatively low (<30%) which is concerning however i don't have many benchmarks. The goods are not manufactured in-house but off-shored to low cost labour countries.

Keen to get any insight from other searchers/investors on comparable margins for non-perishable goods and industry standards/benchmarks.