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Fairness Opinion Detail

The Duckhorn Portfolio, Inc. to Butterfly Equity

Beverages/Oct 2024/JPMorgan

Deal Information

Target
The Duckhorn Portfolio, Inc.
Acquiror
Butterfly Equity
Sector
Beverages
Target Type
Public
Acquiror Type
Financial
Advisors
JPMorgan

Transaction Metrics

Enterprise Value
$1.9B
EV / LTM Sales
EV / LTM EBITDA
EV / Fwd EBITDA
10.7x

Advisor Transaction Comparables

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

No precedent transactions are exposed for this fairness opinion yet.

DCF Assumptions

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

JPMorgan

Open
WACC
7.25% – 8.25%
Terminal method
Perpetuity growth
Terminal assumption
2.0% – 3.0%
Forecast basis
Management Forecasts (Case F)
Forecast period
fiscal years 2025 through 2029
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