FINSBURY FOOD GROUP
Acquired by
DBAY ADVISORS
FINSBURY FOOD GROUP acquired by DBAY ADVISORS
Target
FINSBURY FOOD GROUP
Acquirer
DBAY ADVISORS
Context
DBAY Advisors acquired the entire issued share capital of Finsbury Food Group via a court-sanctioned scheme of arrangement. The offer price of 110 pence per share valued the company's equity at approximately �143.4 million. This price represented a 23.6% premium to the closing share price prior to the announcement. The deal was driven by the belief that Finsbury could better pursue "transformational M&A" and international expansion as a private company, free from the costs and constraints of a public listing on AIM.
FINSBURY FOOD GROUP, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the 10.1x average currently observed in the AgriFood sector.
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Target
Headquartered in Cardiff, Finsbury Food Group is a leading UK manufacturer of bakery products for the retail and foodservice channels. The group produces cakes, bread, and morning goods under licensed brands (Thorntons, Mary Berry, Disney, Vogel s) and proprietary brands (Kara, Memory Lane). At the time of the deal, it operated 8 manufacturing sites across the UK and Europe (France/Poland).
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with FINSBURY FOOD GROUP
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