Deal Detail

Ranir Global Holdings LLC to Perrigo Company plc

EV / LTM EBITDA

EV / LTM Sales

2.6x

Enterprise Value

$750M

Primary Source

Company Release

Comparable Transactions

Consumer Health transactions announced in the five years to May 2019. 11 with a disclosed multiple.

Date	Target	Acquiror	Enterprise Value	EV/Sales	EV/EBITDA	Type
Feb 2019	Cytosport	PepsiCo Inc.	$465M	1.6x	-	Strategic
Dec 2018	Nutrisystem, Inc.	Tivity Health, Inc.	$1.3B	-	12.6x	Strategic
Nov 2018	PhD Nutrition Ltd	Science in Sport plc	-	-	11.4x	Strategic
Oct 2018	Slim-Fast Foods	Glanbia PLC	$350M	1.6x	14.6x	Strategic
Apr 2018	Merck KGaA (consumer health business)	The Procter & Gamble Company	$4.2B	-	19.5x	Strategic
May 2017	Nutraceutical International Corp.	HGGC LLC	-	-	9.2x	Strategic
Aug 2016	Vitaco Holdings Limited	Investors Group Inc.	-	-	14.7x	Financial
Sep 2015	Swisse Wellness Pty Ltd.	Biostime Healthy Australia Pty Ltd.	$1.2B	-	10.2x	Strategic
Jun 2015	Vega	The WhiteWave Foods Company, WhiteWave Foods	-	-	30.5x	Strategic
Jun 2014	Healthy Directions, LLC	Helen of Troy Limited	-	-	8.0x	Strategic
Jun 2014	CytoSport Holdings, Inc.	Hormel, Hormel Foods Corporation	-	-	15.0x	Strategic
	Mean			-	14.6x
	Median			-	13.6x

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	press release	Press Release	-	2019	$750M	2.6x	-	-	EV of $685m net of cash tax benefits on PV basis	Open