Deal Detail

Ralston Purina Company to Nestle S.A.

EV / LTM EBITDA

15.7x

EV / LTM Sales

Enterprise Value

Primary Source

Centerview

Comparable Transactions

Packaged Foods transactions announced in the five years to January 2001. 3 with a disclosed multiple.

Date	Target	Acquiror	Enterprise Value	EV/Sales	EV/EBITDA	Type
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			-	12.4x
	Median			-	14.3x

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	BUFF FO	Centerview	2018	-	-	15.7x	-	-	Open