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09/2018

ARCADO acquired by MBO+ & AMUNDI PRIVATE EQUITY

FRANCE Food Processing / Food Products / Meat & Cured Meat EV 50M - 150M EUR

Context

Arcado finalized its third LBO, allowing MBO Partenaires and Amundi PEF to take a majority stake via an equity investment of nearly EUR30 million. Historical investors (Siparex and Carvest) also reinvest. The goal is to reach EUR100 million in revenue through acquisitions of regional charcuterie SMEs.

ARCADO, which reported an EBITDA margin of in 2018, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the AgriFood sector (11.8x).

-> Deep-dive in AgriFood market trends

Target

Arcado is a French charcuterie group based in the Doubs, in the Bourgogne‑Franche‑Comté region, specialized in premium IGP‑labelled sausages such as Morteau and Montbéliard sausages, as well as related cured meat specialties. The group produces and markets branded and private‑label products through a portfolio of historical brands, including Morteau Saucisse, Clavière, Chambade, and Jean‑Louis Amiotte. Its business model combines artisanal production, geographical identity, and strong positioning in the mass‑market retail channel, particularly in large supermarkets and hypermarkets. The company operates at the intersection of craftsmanship and industrial scale, preserving a partly artisanal manufacturing process while leveraging procurement and brand power to secure a significant share of the IGP sausage market. Arcado controls a large portion of the Morteau and Montbéliard sausage segments, benefiting from label protection, regional sourcing, and consumer perception of quality and authenticity. Its product strategy is reinforced by a series of acquisitions, including Clavière in 2017 and Aux Produits Saugets in late 2020, which expanded both its range and its distribution footprint.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2018
2017

Other operations with ARCADO

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
07/2022CHEVRILLONARCADOFRANCEMeat & Cured Meat

REFERENCES

Valuation range: EV 50M - 150M EUR

Revenue range: 50M - 100M EUR

EBITDA range: 5M - 25M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ARCADO by MBO+ / AMUNDI PRIVATE EQUITY are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: amundi private equity / mbo+