At what enterprise value was AVANDIS acquired in 2023?

You can find the full valuation details of AVANDIS on mynth capital. The transaction's Enterprise Value is estimated to be in the range of 10M - 30M EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the AgriFood industry currently tracks an average EBITDA multiple of 10.2x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of AVANDIS when it was acquired by REFRESCO?

The exact EV/EBITDA multiple for AVANDIS is available on mynth capital. For comparison, the AgriFood sector currently shows an average EBITDA multiple of 10.2x. Join our community for free to access full valuation data and industry trends.

When was AVANDIS acquired by REFRESCO?

AVANDIS was acquired by REFRESCO in 2023.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the AVANDIS acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the AVANDIS deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.refresco.com/en/press-releases/2581467/

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01/2023

AVANDIS acquired by REFRESCO

NETHERLANDS Food Processing / Contract Bottling & Packaging EV 10M - 30M EUR

Context

Refresco has completed the acquisition of Avandis, a Dutch manufacturer of alcoholic beverages, from Lucas Bols and De Kuyper Royal Distillers, two leading players in the spirits and cocktail industry. The transaction was finalized in January 2023, following the signing of the initial agreement in October 2022 and the receipt of regulatory approvals. Avandis is a contract manufacturer specializing in the production of alcoholic beverages, headquartered in Zoetermeer, Netherlands. The company provides manufacturing solutions for spirits and cocktail brands, with a strong expertise in complex products and private-label productions. It operates an integrated industrial site within a European network of beverage production facilities. This acquisition enables Refresco to expand its presence in the alcoholic beverages segment, complementing its historical activities in non-alcoholic beverages. It also strengthens Refresco's multi-category industrial platform model and is in line with its "Buy & Build" external growth strategy, aimed at consolidating subcontracted production capabilities in the global beverage industry.

AVANDIS, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the AgriFood sector (10.2x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in AgriFood market trends

Target

Avandis is a Dutch manufacturer of alcoholic beverages specializing in private label production for major spirits industry players. Headquartered in Zoetermeer, Netherlands, the company provides production solutions for a range of alcoholic beverage categories, including spirits, liqueurs, and ready-to-drink cocktails. Avandis operates as an integrated B2B industrial partner, serving prominent international brands such as Lucas Bols and De Kuyper, as well as other clients in the alcoholic beverages sector. Its business model is built on strong expertise in outsourced production, combined with flexible industrial capabilities that enable the management of large volumes and complex formulations. The company operates a production site certified to international quality and food safety standards, making it a key partner for brands seeking to outsource all or part of their production. Avandis is positioned in the industrial subcontracting market for alcoholic beverages, benefiting from a strategic role in the spirits value chain in Europe. Its positioning is driven by a growing trend of production outsourcing by major brands, which are seeking to optimize their costs, industrial flexibility, and product innovation capabilities.

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Similar deals in AgriFood

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
02/2023	LUCAS BOLS COMPANY	FLUÈRE	NETHERLANDS	Food Processing	Lucas Bols completed the acquisition of 100% of Fluère to strategically enter the rapidly growing non-alcoholic spirits market. This "bolt-on" acquisition allows Lucas Bols to capitalize on the "mindful drinking" trend, providing a sophisticated alcohol-free alternative to its global client base of professional bartenders and distributors
02/2023	PAI PARTNERS	LA COMPAGNIE DES DESSERTS	FRANCE	Food Processing	PAI Partners' investment in La Compagnie des Desserts, a specialist in frozen pastries and ice cream for professionals, is part of a broader strategy to expand geographically and diversify operations. With a workforce of 700 employees, the company aims to achieve revenues of 180 million euros by 2027, up from 117 million euros in 2022, driven by approximately 20 annual hires
01/2023	NEWPRINCES GROUP	EM FOODS	FRANCE	Food Processing	Newlat Food has completed the acquisition of EM Foods and its manufacturing facility in Ludres from the German food company Dr. Oetker. This transaction marks Newlat's strategic entry into the baking mixes and dessert category, further diversifying its product offering
01/2023	BROWN-FORMAN CORPORATION	DIPLOMÁTICO RUM	VENEZUELA	Food Processing	Brown‑Forman Corporation has completed the acquisition of the Diplomático Rum brand and its associated corporate assets from Destillers United Group S.L.. The transaction structure transfers full brand ownership alongside a dedicated aging, bottling, and shipping production facility located in Panama
01/2023	IRCA / ADVENT INTERNATIONAL	KERRY SWEET INGREDIENTS	IRELAND	Food Processing	Kerry Group entered into exclusive negotiations to divest its Sweet Ingredients Portfolio to IRCA, a portfolio company of the global private equity firm Advent International. This transaction represents a strategic move for Kerry Group to refine and enhance its core Taste & Nutrition business
12/2022	ITALIAN WINE BRANDS	BARBANERA VINI	ITALY	Food Processing	Italian Wine Brands has completed the acquisition of 100% of Barbanera S.r.l. and Fossalto S.r.l. from the Barbanera family. This transaction marks a significant milestone in the buyer's consolidation strategy in the Italian wine market
10/2022	ORKLA	DENALI INGREDIENTS	UNITED STATES	Food Processing	Orkla Food Ingredients (OFI) has agreed to acquire 84% of Denali Ingredients from the founding family. The deal includes a potential earn-out ("top-up payment") based on future growth. The seller and CEO will retain a combined ~16% stake
10/2022	CAMPARI GROUP	WILDERNESS TRAIL DISTILLERY	UNITED STATES	Food Processing	Campari Group has entered into an agreement to acquire a 70% stake in Wilderness Trail Distillery, with a mechanism in place to acquire the remaining 30% in 2031 through a cross-option arrangement between the parties
09/2022	JDE PEETS	LES 2 MARMOTTES	FRANCE	Food Processing	JDE Peet’s, a Netherlands‑based global coffee and beverage group listed on Euronext Amsterdam, acquired Les 2 Marmottes from FrenchFood Capital I in an all‑equity transaction structured as a 100% asset purchase
07/2022	PREMIER FOODS	THE SPICE TAILOR	UNITED KINGDOM	Food Processing	Premier Foods agreed to acquire 100% of The Spice Tailor shares on a cash-free, debt-free basis, marking a strategic bolt-on to its ethnic foods portfolio. Transaction facts highlight a full ownership transfer, funded via cash and committed facilities, with completion pending merger control clearance and structured earn-outs over three years tied to future sales performance

REFERENCES

Valuation range: EV 10M - 30M EUR

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

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Acquirer: refresco