Deal Detail

J.R. Wood to Dole Food Co.

EV / LTM EBITDA

7.3x

EV / LTM Sales

Enterprise Value

Primary Source

Wells Fargo Securities

Comparable Transactions

Packaged Foods transactions announced in the five years to April 2004. 7 with a disclosed multiple.

Date	Target	Acquiror	Enterprise Value	EV/Sales	EV/EBITDA	Type
Nov 2003	Sylvan Inc.	Snyder Associated Companies	$100M	-	8.3x	Strategic
Dec 2002	Dole Food Company	David H. Murdock	$2.3B	-	6.2x	Financial
Aug 2001	Fresh Express	Performance Food Group	$303M	-	7.2x	Strategic
Jan 2001	Ralston Purina Company	Nestle S.A.	-	-	15.7x	Strategic
Jan 2001	IBP, Inc.	Tyson Foods, Inc.	-	-	7.3x	Strategic
Dec 2000	Quaker Oats Company	PepsiCo Inc.	-	-	15.6x	Strategic
Jun 2000	Bestfoods Corporation	Unilever plc	-	-	14.3x	Strategic
	Mean			-	10.7x
	Median			-	8.3x

Source-specific multiples and notes for this transaction.

Comp	Primary?	Source Type	Source	Source Advisor	Source Year	EV (USD)	EV/Sales	EV/EBITDA	EV/Fwd EBITDA	Note	Citation
	Primary	fairness opinion	CQB FO	Wells Fargo Securities	2014	-	-	7.3x	-	-	Open