Back

Fairness Opinion Detail

SodaStream Ltd. to PepsiCo, Inc.

Beverages/Aug 2018/Perella Weinberg

Deal Information

Target
SodaStream Ltd.
Acquiror
PepsiCo, Inc.
Sector
Beverages
Target Type
Public
Acquiror Type
Strategic
Advisors
Perella Weinberg

Transaction Metrics

Enterprise Value
$3.1B
EV / LTM Sales
EV / LTM EBITDA
25.3x
EV / Fwd EBITDA

Advisor Transaction Comparables

Comparable transactions cited by the advisor, excluding the subject transaction.

Advisor: Perella Weinberg

EV/LTM EBITDA selected range: 18.1x - 25.5x

11 comps
May 2018Frutarom Industries Ltd.International Flavors & Fragrances Inc.--23.9x-
Feb 2018Blue Buffalo Pet Products, Inc.General Mills Inc.--25.5x-
Jan 2018Dr Pepper Snapple Group, Inc.Keurig Green Mountain, Inc.--16.0x-
Dec 2017Snyder's-Lance, Inc.Campbell Soup Company--20.6x-
Dec 2017Amplify Snack Brands, Inc.The Hershey Company--19.2x-
Oct 2017Chicago Bar Company LLCKellogg Company--19.5x-
Jul 2016The WhiteWave Foods CompanyDanone S.A.--23.5x-
Dec 2015Keurig Green Mountain, Inc.Acorn Holdings B.V.--13.2x-
Sep 2014Annie's, Inc.General Mills, Inc.--38.8x-
Jun 2014CytoSport Holdings, Inc.Hormel Foods Corporation--15.0x-
Mar 2013D.E. MASTER BLENDERS 1753 N.V.Oak Leaf B.V.--18.1x-
Mean-21.2x-
Median-19.5x-