Deal Detail

Smart & Final Stores, Inc. to Bodega Latina Corp.

EV / LTM EBITDA

3.7x

EV / LTM Sales

Enterprise Value

$600M

Primary Source

Centerview

Comparable Transactions

Grocery Retail transactions announced in the five years to May 2021. 4 with a disclosed multiple.

Date	Target	Acquiror	Enterprise Value	EV/Sales	EV/EBITDA	Type
Apr 2019	Smart & Final Stores, Inc.	Apollo Global Management, LLC	$1.1B	-	6.5x	Financial
Jul 2018	Supervalu Inc.	United Natural Foods, Inc.	$2.9B	-	7.0x	Strategic
Jun 2017	Whole Foods Market, Inc.	Amazon.com, Inc.	$13.7B	-	10.6x	Strategic
Oct 2016	Save-A-Lot	Onex	$1.4B	-	7.0x	Financial
	Mean			-	7.8x
	Median			-	7.0x

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	WBA FO	Centerview	2025	$600M	-	3.7x	-	-	Open