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Deal Detail

Pizza Hut Malaysia to CVC Capital

RestaurantsLimited-Service/Nov 2012
EV / LTM EBITDA
7.0x
EV / LTM Sales
-
Enterprise Value
$956M
Primary Source
RBI NZ Offer

Comparable Transactions

Restaurants transactions announced in the five years to November 2012. 21 with a disclosed multiple.

DateTargetAcquirorEnterprise ValueEV/SalesEV/EBITDAType
Nov 2012TeavanaStarbucks--17.9xStrategic
Sep 2012J. Alexander’s Corp.American Blue Ribbon Holdings$100M-8.5xStrategic
Jul 2012Peet’s Coffee & TeaJAB Holding--22.1xStrategic
Jul 2012Yard House USA, Inc.Darden Restaurants--13.3xStrategic
May 2012Fogo de Chao, Inc.Thomas H. Lee Partners, L.P.--8.7xFinancial
May 2012BenihanaAngelo, Gordon & Co.--9.1xFinancial
May 2012P.F. Chang’s China BistroCenterbridge Partners--8.3xFinancial
Mar 2012The Krystal CompanyArgonne Capital Group$120M-5.7xStrategic
Feb 2012O’Charley’sFidelity National Financial--6.5xStrategic
Jan 2012KFC MalaysiaCVC Capital$1.0B-9.6xFinancial
Dec 2011Morton’s Restaurant GroupLandry’s$182M-6.7xStrategic
Nov 2011McCormick & Schmick’s Seafood RestaurantsLandry’s$133M-6.8xStrategic
Jun 2011Arby’s Restaurant GroupRoark Capital Group$339M-6.4xFinancial
May 2011California Pizza KitchenGolden Gate Capital$455M-6.9xFinancial
Dec 2010Noodles & CompanyCatterton Partners$265M-10.4xFinancial
Nov 2010Bubba Gump Shrimp Co.Landry’s$113M-6.5xStrategic
Aug 2010Logan’s RoadhouseKelso & Company$577M-7.7xFinancial
Jun 2010Landry’s RestaurantsTilman J. Fertitta$1.3B-7.5xFinancial
May 2010Dave & Buster’s HoldingsOak Hill Capital Partners$570M-6.9xFinancial
Apr 2010CKE RestaurantsApollo Global Management$1.0B-6.5xFinancial
Jan 2010Burger King NZBlackstone$123M-8.2xFinancial
Mean-9.1x
Median-7.7x

All Observations

Source-specific multiples and notes for this transaction.

CompPrimary?Source TypeSourceSource AdvisorSource YearEV (USD)EV/SalesEV/EBITDAEV/Fwd EBITDANoteCitation
PrimarymanualRBI NZ OfferGrant Samuel2018$956M-7.0x-75% tender offer (NZ$9.45)Open