Deal Detail

Seroyal International Inc. to Atrium Biotech Investments (subsidiary of Atrium Innovations)

EV / LTM EBITDA

7.5x

EV / LTM Sales

Enterprise Value

Primary Source

Fairness Opinion

Comparable Transactions

Consumer Health transactions announced in the five years to January 2011. 5 with a disclosed multiple.

Date	Target	Acquiror	Enterprise Value	EV/Sales	EV/EBITDA	Type
Dec 2010	Maxinutrition Group Holdings Limited	GlaxoSmithKline plc	-	-	20.0x	Strategic
Jul 2010	NBTY, Inc.	The Carlyle Group L.P.	-	-	8.1x	Financial
Jan 2010	Amerifit Brands, Inc.	Martek Biosciences Corp., Subsidiary of Royal DSM N.V.	-	-	8.9x	Strategic
Sep 2009	Garden of Life Inc.	Atrium Innovations Inc.	-	-	11.2x	Strategic
Feb 2006	Vitaquest International LLC	CK Life Sciences International	-	-	11.2x	Strategic
	Mean			-	11.9x
	Median			-	11.2x

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	WNI FO	Houlihan	2012	-	-	7.5x	-	-	Open