Deal Detail

Unified Grocers, Inc. to Supervalu Inc.

EV / LTM EBITDA

11.1x

EV / LTM Sales

Enterprise Value

$390M

Primary Source

BofA

Comparable Transactions

Food Distribution transactions announced in the five years to April 2017. 3 with a disclosed multiple.

Date	Target	Acquiror	Enterprise Value	EV/Sales	EV/EBITDA	Type
Feb 2016	Brakes Group	Sysco Corporation	$3.1B	-	11.9x	Strategic
Dec 2013	US Foods	Sysco Corporation	$8.2B	-	9.9x	Strategic
Jul 2013	Nash Finch Company	Spartan Stores, Inc.	$782M	-	6.6x	Strategic
	Mean			-	9.5x
	Median			-	9.9x

Source-specific multiples and notes for this transaction.

Primary?	Source Type	Source	Source Advisor	Source Year	EV (USD)	EV/Sales	EV/EBITDA	EV/Fwd EBITDA	Note	Citation
Primary	fairness opinion	SPTN FO	BofA	2025	$390M	-	11.1x	-	Wholesale to retail channel	Open
-	fairness opinion	CORE FO	Barclays	2021	$375M	-	10.9x	-	Wholesale to retail channel	Open
-	fairness opinion	WFM FO	Evercore	2017	-	-	10.0x	-	Wholesale to retail channel	Open