ARCADO acquired by MBO+ & AMUNDI PRIVATE EQUITY
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)
Other operations with ARCADO
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 07/2022 | CHEVRILLON | ARCADO | FRANCE | Meat & Cured Meat |
REFERENCES
Valuation range: EV 50M - 150M EUR
Revenue range: 50M - 100M EUR
EBITDA range: 5M - 25M EUR
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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+