At what enterprise value was CEVA SANTE ANIMALE acquired in 2025?

During the acquisition of CEVA SANTE ANIMALE by INSTITUT MERIEUX / ARCHIMED in 2025, the transaction's Enterprise Value is estimated to be in the range of 3b - 100b EUR.

What was the EV/EBITDA of CEVA SANTE ANIMALE when it was acquired by INSTITUT MERIEUX / ARCHIMED?

The estimated EV/EBITDA multiple for CEVA SANTE ANIMALE is in the range of 15x - 25x.

What was the revenue of CEVA SANTE ANIMALE at the time of the deal?

The revenue of CEVA SANTE ANIMALE at the time of the deal is estimated to be in the range of 1b - 3b EUR.

What was the EBITDA of CEVA SANTE ANIMALE during the acquisition?

CEVA SANTE ANIMALE's EBITDA is estimated to be in the range of 450M - 900M EUR.

How is the data for the CEVA SANTE ANIMALE 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 CEVA SANTE ANIMALE 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.ceva.com/fr/communique-de-presse/ceva-sante-animale-renouvelle-son-actionnariat-avec-lensemble-de-ses-investisseurs-historiques-et-ouvre-son-capital-a-linstitut-merieux-et-a-archimed-afin-daccelerer-sa-croi/

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Home Database Healthcare & PharmaCEVA SANTE ANIMALE

04/2025

CEVA SANTE ANIMALE acquired by INSTITUT MERIEUX / ARCHIMED

FRANCE Life Sciences / Animal Health EV 3b - 100b EUR

Context

Ceva organized its sixth LBO to support its continued growth. The transaction values the group at over EUR9 billion (nearly double the EUR5bn valuation in 2020). Two new shareholders joined the table: Institut Merieux (strengthening the existing presence of Merieux Equity Partners) and Archimed (investing via its large-cap fund). Historical investors, including Tethys and PSP, significantly reinvested. Crucially, the management team led retains control of the voting rights (60%) despite holding 23% of the capital.

In the past, the company had already been the subject of several LBOs, notably led by Institut Merieux / Sagard / Sofiproteol in 2014 and Tethys Invest / Psp Investments / Mitsui & Co in 2020. This succession of buyouts highlights the strong attractiveness of the company's business model.

CEVA SANTE ANIMALE, which reported an EBITDA margin of in 2024, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Healthcare & Pharma sector (15.6x).

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Target

Ceva is the 5th largest animal health company in the world. Headquartered in Libourne, it employs 7,000 people in 47 countries. The group balances its activity between preventive medicine (vaccines) and pharmaceutical products for poultry, swine, ruminants, and pets (30% of sales). It invests ~10% of revenue in R&D.

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EV / EBITDA

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Historical Financials (EUR)

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2024

2023

Other operations with CEVA SANTE ANIMALE

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
02/2020	TETHYS INVEST / PSP INVESTMENTS / MITSUI & CO	CEVA SANTE ANIMALE	FRANCE	Animal Health
09/2014	INSTITUT MERIEUX / SAGARD / SOFIPROTEOL	CEVA SANTE ANIMALE	FRANCE	Animal Health

REFERENCES

Valuation range: EV 3b - 100b EUR

Revenue range: 1b - 3b EUR

EBITDA range: 450M - 900M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of CEVA SANTE ANIMALE by INSTITUT MERIEUX / ARCHIMED 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.

Press release: view release

Target: ceva sante animale

Acquirer: archimed / institut merieux