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Deal Detail
Kettle Foods to Diamond Foods, Inc.
EV / LTM EBITDA
11.6x
EV / LTM Sales
-
Enterprise Value
-
Primary Source
Fairness Opinion
Comparable Transactions
Packaged Foods transactions announced in the five years to February 2010. 30 with a disclosed multiple.
| Date | Target | Acquiror | Enterprise Value | EV/Sales | EV/EBITDA | Type |
|---|---|---|---|---|---|---|
| Feb 2010 | France Champignon | Bonduelle | $139M | - | 6.3x | Strategic |
| Feb 2010 | Best Brands Incorporated | CSM N.V. | - | - | 8.5x | Strategic |
| Jan 2010 | Cadbury plc | Kraft Foods Group, Inc., Kraft Foods Inc. | - | - | 13.0x | Strategic |
| Jan 2010 | Pizza Business (privately owned by Kraft Foods Inc.) | Nestlé USA, Inc. | - | - | 12.5x | Strategic |
| Dec 2009 | Sturm Foods, Inc. | TreeHouse Foods, Inc. | - | - | 7.5x | Strategic |
| Nov 2009 | Birds Eye Foods | Pinnacle Foods | - | - | 9.5x | Strategic |
| Sep 2009 | Bertin Ltda. | JBS S.A. | $5.2B | - | 12.3x | Strategic |
| Sep 2009 | Pilgrim's Pride Corporation | JBS USA Holdings, Incorporated | $2.8B | - | 10.7x | Strategic |
| Dec 2008 | Fresh Bread & Bakery Business of Weston Foods, Inc. (privately owned by Dunedin Holdings S.á.r.l.) | Grupo Bimbo, S.A.B. de C.V. | - | - | 9.8x | Strategic |
| Jul 2008 | Bertolli (Unilever Plc) | SOS Corporacion Alimentaria S.A. | - | 1.7x | 10.5x | Strategic |
| Jun 2008 | Starkist | Dongwon F&B Co., Ltd. | - | - | 7.8x | Strategic |
| Jun 2008 | Desarrollo Agroindustrial de Frutales S.A., Frutas de Exportacion S.A. and Caribana | Fresh Del Monte Produce inc. | $403M | - | 8.1x | Strategic |
| Jun 2008 | Vitacress Salads | RAR Group | $105M | - | 8.2x | Strategic |
| Apr 2008 | WM. Wrigley Jr. Company | Mars, Incorporated | $23.1B | - | 18.5x | Strategic |
| Nov 2007 | Post Cereals (Kraft Foods Inc.) | Ralcorp | - | 2.4x | 9.0x | Strategic |
| Jul 2007 | Wight Salads Group (70%) | RAR Group | $41M | - | 5.7x | Strategic |
| Jul 2007 | Danone Biscuits | Kraft Foods Group, Inc. | - | - | 13.3x | Strategic |
| Jul 2007 | Royal Numico N.V. | Danone, Groupe Danone S.A. | - | - | 24.3x | Strategic |
| May 2007 | Swift & Co. | JBS S.A. | - | - | 7.7x | Strategic |
| Apr 2007 | Gerber Products Company | Nestlé | - | - | 15.7x | Strategic |
| Feb 2007 | Pinnacle Foods Group Inc. | The Blackstone Group L.P. | - | 1.6x | 10.5x | Financial |
| Dec 2006 | Novartis Medical Nutrition | Nestlé Group | - | - | 17.6x | Strategic |
| Oct 2006 | Otis Spunkmeyer, Inc. | IAWS Group, plc | - | 1.6x | 11.7x | Strategic |
| Sep 2006 | Premium Standard Farms, Inc. | Smithfield Foods, Inc. | - | - | 6.0x | Strategic |
| Aug 2006 | European Frozen Foods Division of Unilever plc | Permira Advisors Ltd. | $2.2B | - | 9.9x | Financial |
| Jul 2006 | ConAgra Foods, Inc. Branded Meats Business | Smithfield Foods, Inc. | - | - | 5.8x | Strategic |
| Jul 2006 | Chiquita Brands South Pacific Limited | Tradefresh Pty Ltd | $130M | - | 8.7x | Strategic |
| Jun 2006 | Sara Lee Corp. European Meat Business | Smithfield Foods, Inc. | - | - | 6.0x | Strategic |
| Nov 2005 | EAC Nutrition | Royal Numico N.V. | - | - | 25.0x | Strategic |
| Oct 2005 | Bolthouse Farms (57%) | Madison Dearborn Partners | $1.1B | - | 9.3x | Financial |
| Mean | 1.8x | 11.0x | ||||
| Median | 1.6x | 9.7x |
All Observations
Source-specific multiples and notes for this transaction.