At what enterprise value was CERELIA acquired in 2019?

During the acquisition of CERELIA by ARDIAN in 2019, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b 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 10.7x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of CERELIA when it was acquired by ARDIAN?

The estimated EV/EBITDA multiple for CERELIA is in the range of 10x - 18x. For comparison, the AgriFood sector currently shows an average EBITDA multiple of 10.7x. Join our community for free to access full valuation data and industry trends.

When was CERELIA acquired by ARDIAN?

CERELIA was acquired by ARDIAN in 2019.

What was the revenue of CERELIA at the time of the deal?

The revenue of CERELIA at the time of the deal is estimated to be in the range of 250M - 500M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of CERELIA during the acquisition?

CERELIA's EBITDA is estimated to be in the range of 50M - 100M EUR. Join our community for free to access complete and exact deal data.

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 CERELIA 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 CERELIA 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://capitalfinance.lesechos.fr/deals/lbo/ardian-valorise-cerelia-pres-de-810-m-1157926

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Home Database AgriFoodCERELIA

12/2019

CERELIA acquired by ARDIAN

FRANCE Food Processing / Food Products / Bakery / Pastry EV 500M - 1.5b EUR

Context

Ardian acquired a majority stake in Cerelia from IK Investment Partners. During IK's tenure, Cerelia doubled its size via acquisitions (Bioderij, BakeAway, English Bay Batter). Ardian's investment thesis is built on stabilizing US margins and continuing the pan-European and transatlantic consolidation of the bakery sector.

In the past, the company underwent an LBO led by Ik Partners in 2015, and continued an active consolidation strategy by notably acquiring English Bay Batter (2017).

CERELIA, which reported an EBITDA margin of in 2019, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the AgriFood sector (10.7x).

-> Deep-dive in AgriFood market trends

Target

Cerelia is a leading transatlantic manufacturer of fresh, ready-to-bake dough and premium bakery products, with a heritage dating back to 1974. The group holds leadership positions in Europe and North America across several categories, including pie crusts, pizza dough, pancakes, crepes, and cookies. Operating a robust Corporate footprint with major facilities in France, Italy, the UK, and North America, Cerelia distributes its products in over 50 countries through both private label partnerships and proprietary brands (such as Croustipate and English Bay Batter).

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2018

Other operations with CERELIA

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
04/2017	CERELIA	ENGLISH BAY BATTER	CANADA	Food Products
06/2015	IK PARTNERS	CERELIA	FRANCE	Bakery / Pastry

REFERENCES

Valuation range: EV 500M - 1.5b EUR

Revenue range: 250M - 500M EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of CERELIA by ARDIAN 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: ardian