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Deal Detail

Post Cereals (Kraft Foods Inc.) to Ralcorp

Packaged FoodsCenter Store/Nov 2007
EV / LTM EBITDA
9.0x
EV / LTM Sales
2.4x
Enterprise Value
-
Primary Source
Fairness Opinion

Comparable Transactions

Packaged Foods transactions announced in the five years to November 2007. 22 with a disclosed multiple.

DateTargetAcquirorEnterprise ValueEV/SalesEV/EBITDAType
Jul 2007Wight Salads Group (70%)RAR Group$41M-5.7xStrategic
Jul 2007Danone BiscuitsKraft Foods Group, Inc.--13.3xStrategic
Jul 2007Royal Numico N.V.Danone, Groupe Danone S.A.--24.3xStrategic
May 2007Swift & Co.JBS S.A.--7.7xStrategic
Apr 2007Gerber Products CompanyNestlé--15.7xStrategic
Feb 2007Pinnacle Foods Group Inc.The Blackstone Group L.P.-1.6x10.5xFinancial
Dec 2006Novartis Medical NutritionNestlé Group--17.6xStrategic
Oct 2006Otis Spunkmeyer, Inc.IAWS Group, plc-1.6x11.7xStrategic
Sep 2006Premium Standard Farms, Inc.Smithfield Foods, Inc.--6.0xStrategic
Aug 2006European Frozen Foods Division of Unilever plcPermira Advisors Ltd.$2.2B-9.9xFinancial
Jul 2006ConAgra Foods, Inc. Branded Meats BusinessSmithfield Foods, Inc.--5.8xStrategic
Jul 2006Chiquita Brands South Pacific LimitedTradefresh Pty Ltd$130M-8.7xStrategic
Jun 2006Sara Lee Corp. European Meat BusinessSmithfield Foods, Inc.--6.0xStrategic
Nov 2005EAC NutritionRoyal Numico N.V.--25.0xStrategic
Oct 2005Bolthouse Farms (57%)Madison Dearborn Partners$1.1B-9.3xFinancial
Feb 2005Mellin S.p.ARoyal Numico N.V.--13.8xStrategic
Feb 2005Fresh Express Unit of Performance Food GroupChiquita Brands International$855M-10.7xStrategic
May 2004Everfresh (60%)Fyffes plc$75M-6.4xStrategic
Apr 2004J.R. WoodDole Food Co.--7.3xStrategic
Nov 2003Sylvan Inc.Snyder Associated Companies$100M-8.3xStrategic
Dec 2002Dole Food CompanyDavid H. Murdock$2.3B-6.2xFinancial
Dec 2002Adams Confectionary Business of Pfizer Inc.Cadbury Schweppes plc$3.8B-12.8xStrategic
Mean-11.0x
Median-9.6x

All Observations

Source-specific multiples and notes for this transaction.

CompPrimary?Source TypeSourceSource AdvisorSource YearEV (USD)EV/SalesEV/EBITDAEV/Fwd EBITDANoteCitation
PrimaryFairness OpinionRAH FOBarclays2013-2.4x9.0x--Open
-Fairness OpinionHNZ FOMoelis2013$2.6B-11.3x--Open
-Fairness OpinionRAH FOGoldman Sachs2013-2.4x9.0x--Open