M&A

FIRST CHOICE INGREDIENTS

Name: mynth M&A Transaction Multiples Database
Creator: mynth
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Acquired by

ROYAL DSM

UNITED STATES Food Processing EV [100m EUR - 500m EUR] 09/2021

FIRST CHOICE INGREDIENTS acquired by ROYAL DSM

UNITED STATES Food Processing EV [100m EUR - 500m EUR] 09/2021

Target

FIRST CHOICE INGREDIENTS

Acquirer

ROYAL DSM

Context

DSM has entered into a definitive agreement to acquire First Choice Ingredients. This acquisition strategically expands DSM's Food & Beverage offering by adding a leading position in the US savory dairy flavor market. The deal allows DSM to leverage its global distribution network to accelerate First Choice Ingredients' growth outside the US, while integrating their proprietary fermentation technologies into DSM's existing portfolio of enzymes and cultures.

FIRST CHOICE INGREDIENTS, which reported an EBITDA margin of LOGIN in 2021, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN as high as the 10.1x average currently observed in the AgriFood sector.

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.

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Target

Headquartered in Germantown, Wisconsin, First Choice Ingredients is a leading US developer of concentrated dairy flavors created through proprietary fermentation technologies. The company operates three manufacturing facilities and employs approximately 100 people. It specializes in fermenting and blending natural dairy products with cultures and enzymes to create "clean label" savory flavor solutions. Its products are used in a wide range of applications including soups, snacks, salad dressings, sauces, ready meals, bakery products, and increasingly in plant-based meat and dairy alternatives to mimic authentic dairy taste.

Ent. Value

Equity Value

Multiples Analysis

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2021

2020

Other operations with FIRST CHOICE INGREDIENTS

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