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Deal Detail

Keystone Foods LLC to Tyson Foods, Inc.

Packaged Foods/Aug 2018
EV / LTM EBITDA
10.2x
EV / LTM Sales
-
Enterprise Value
$2.2B
Primary Source
Centerview

Comparable Transactions

Packaged Foods transactions announced in the five years to August 2018. 61 with a disclosed multiple.

DateTargetAcquirorEnterprise ValueEV/SalesEV/EBITDAType
Jun 2018Pinnacle Foods Inc.Conagra Brands, Inc.--16.1xStrategic
Apr 2018National Beef Packing Company, LLCMarfrig S.A.$2.3B-4.4xStrategic
Feb 2018Blue Buffalo Pet Products, Inc.General Mills, Inc.$8.0B6.3x25.5xStrategic
Jan 2018Nestlé's US confectionary businessFerrero Group--16.0xStrategic
Dec 2017Snyder's-Lance, Inc.Campbell Soup Company--20.9xStrategic
Dec 2017Amplify Snack Brands, Inc.The Hershey Co.--18.8xStrategic
Dec 2017Unilever Spreads BusinessKKR$8.0B-10.0xFinancial
Oct 2017Refresco Group N.V.PAI Partners & British Columbia Investment Management Corporation--8.5xFinancial
Sep 2017Moy Park Holdings (Europe) Ltd.Pilgrim's Pride Corporation$1.3B0.7x9.7xStrategic
Sep 2017Bob Evans Farms, Inc.Post Holdings, Inc.--16.5xStrategic
Aug 2017Fontanini Italian Meats & SausagesHormel Foods Corporation$425M1.8x-Strategic
Jul 2017Reckitt Benckiser Foods Division (privately owned by Reckitt Benckiser Group plc)McCormick & Company, Incorporated--20.0xStrategic
Jul 2017Cott Corporation's Bottling BusinessRefresco Group N.V.--9.2xStrategic
Jul 2017East Balt Bakeries CompanyGrupo Bimbo S.A.B. de C.V.--9.3xStrategic
Jul 2017Frank's RedHotMcCormick & Company Inc.--20.0xStrategic
May 2017Rubicon Resources, LLCHigh Liner Foods Incorporated$107M0.5x6.7xStrategic
Apr 2017Weetabix Food Co.Post Holdings, Inc.--11.0xStrategic
Apr 2017AdvancePierre Foods Holdings, Inc.Tyson Foods, Inc.--13.9xStrategic
Feb 2017Mead Johnson Nutrition CompanyReckitt Benckiser Group plc$17.9B-17.4xStrategic
Dec 2016Fyffes plcSumitomo Corporation--10.8xStrategic
Nov 2016Peacock Foods, LLCGreencore Group plc--10.4xStrategic
Aug 2016S&D CoffeeCott Corporation--7.0xStrategic
Jul 2016Hostess BrandsGores Group Holdingds, The Gores Group$2.3B-12.1xStrategic
Jul 2016The WhiteWave Foods CompanyDANONE S.A.--23.4xStrategic
Dec 2015Keurig Green Mountain, Inc.JAB Holding / Mondelez, JAB Holding Company--13.5xStrategic
Nov 2015Boulder Brands, Inc.Pinnacle Foods Inc.$975M1.9x14.6xStrategic
Nov 2015Ralcorp Holdings, Inc. (privately owned by Conagra Foods, Inc.)Treehouse Foods, Inc.--9.0xStrategic
Nov 2015ConAgra Foods' Private Brands (Ralcorp)TreeHouse Foods, Inc.--9.0xStrategic
Oct 2015Diamond Foods, Inc.Snyder's-Lance, Inc.--15.8xStrategic
Aug 2015Wallaby Yogurt CompanyWhiteWave Foods-2.7x-Strategic
Jul 2015Sunrise Holdings, Inc.SunOpta, Inc.--11.5xStrategic
Jul 2015ApplegateHormel-2.3x-Strategic
Jul 2015Cargill Pork, LLCJBS USA, LLC$1.5B-6.8xStrategic
Jun 2015Moy Park Ltd.JBS S.A.$1.5B-7.9xStrategic
Jun 2015Garden FreshCampbell Soup-2.3x-Strategic
Jun 2015VegaThe WhiteWave Foods Company, WhiteWave Foods--30.5xStrategic
May 2015Applegate Farms, LLCHormel Foods Corporation--15.0xStrategic
Mar 2015Kraft Foods Group, Inc.H.J. Heinz Company, Heinz--15.2xStrategic
Feb 2015Big Heart Pet Brands, Inc.Smuckers, The J.M. Smucker Company-2.5x12.9xStrategic
Jan 2015MOM Brands CompanyPost Holdings, Inc.$1.2B-9.6xStrategic
Nov 2014P&M Quality Smallgoods Pty Ltd.JBS Australia Pty Ltd.$1.3B-9.7xStrategic
Nov 2014Gardein ProteinPinnacle Foods-2.8x-Strategic
Oct 2014Chiquita Brands International plcGrupo Cutrale / Safra Group--12.8xStrategic
Sep 2014Annie’s, Inc.General Mills, Inc.--38.7xStrategic
Jul 2014The Hillshire Brands CompanyTyson, Tyson Foods, Inc.--16.7xStrategic
Jun 2014Flagstone FoodsTreeHouse Foods, Inc.--11.5xStrategic
Jun 2014CytoSport Holdings, Inc.Hormel, Hormel Foods Corporation--15.0xStrategic
May 2014Pinnacle Foods Inc.*The Hillshire Brands Company--14.1xStrategic
May 2014Van’sHillshire-2.8x-Strategic
May 2014Ragu & Bertolli pasta sauce brand portfolioMizkan Group--15.8xStrategic
May 2014Conopco Inc.Mizkan Group--15.8xStrategic
Apr 2014Michael FoodsPost Holdings, Inc.--9.3xStrategic
Apr 2014MFI Holding Corporation (Michael Foods)Post Holdings, Inc.--9.3xStrategic
Jan 2014Beam Inc.Suntory Holdings Limited--20.3xStrategic
Dec 2013Campofrio Food Group S.A.Sigma Alimentos S.A. de CV and Smithfield Foods, Inc.$1.6B-8.4xStrategic
Dec 2013Earthbound FarmThe White Wave Foods Company$600M-8.0xStrategic
Dec 2013Natural SelectionWhiteWave Foods-1.1x10.0xStrategic
Dec 2013Dymatize Enterprises, LLCPost-2.0x14.6xStrategic
Nov 2013KindDaniel Lubetsky-3.7x15.3xFinancial
Oct 2013Del Monte Consumer ProductsDel Monte Pacific--9.4xStrategic
Sep 2013Dakota Growers Pasta CompanyPost Holdings, Inc.--8.4xStrategic
Mean2.4x13.7x
Median2.3x12.8x

All Observations

Source-specific multiples and notes for this transaction.

Add to SetPrimary?Source TypeFairness Opinion / SourceAdvisorSource YearEnterprise ValueEV/SalesEV/EBITDAEV/Fwd EBITDANoteCitation
Primaryfairness opinionSAFM FOCenterview2021$2.2B-10.2x--Open