Chiquita Brands International plc to Grupo Cutrale / Safra Group

Deal Information

Target

Chiquita Brands International plc

Acquiror

Grupo Cutrale / Safra Group

Sector

Target Type

Public

Acquiror Type

Strategic

Advisors

Goldman Sachs

Enterprise Value

$1.3B

EV / LTM Sales

0.4x

EV / LTM EBITDA

12.8x

EV / Fwd EBITDA

8.2x

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

No precedent transactions are exposed for this fairness opinion yet.

Discount rate and terminal value assumptions the advisor selected for its discounted cash flow analysis.

WACC: 8.5% – 9.5%
Terminal method: Exit multiple
Terminal assumption: 6.5x – 7.5x (LTM EV/EBITDA (terminal year 2016E))
Forecast basis: Management Forecasts (the "Forecasts") for Chiquita as a standalone company
Forecast period: fiscal years 2015 and 2016

Advisor	WACC	Terminal method	Terminal assumption	Forecast basis	Forecast period	Filing
Goldman Sachs	8.5% – 9.5%	Exit multiple	6.5x – 7.5x (LTM EV/EBITDA (terminal year 2016E))	Management Forecasts (the "Forecasts") for Chiquita as a standalone company	fiscal years 2015 and 2016	Open