FLORIDA FOOD PRODUCTS (FFP)
Acquired by
ARDIAN
FLORIDA FOOD PRODUCTS (FFP) acquired by ARDIAN
Target
FLORIDA FOOD PRODUCTS (FFP)
Acquirer
ARDIAN
Context
Ardian has acquired a majority stake in Florida Food Products (FFP) from MidOcean Partners. Under the terms of the agreement, MidOcean, which first invested in FFP in 2018, will retain a significant minority equity stake alongside Ardian. The partnership aims to accelerate FFP's strategic plan through further investment in R&D, infrastructure, and acquisitions to expand its portfolio of natural ingredient solutions. The deal represents a major exit and reinvestment for MidOcean, validating the rapid growth of the clean label sector.
FLORIDA FOOD PRODUCTS (FFP), which reported an EBITDA margin of LOGIN in 2022, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the 10.1x average currently observed in the AgriFood sector.
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Target
Founded in 1954 and headquartered in Eustis, Florida, Florida Food Products (FFP) is a leading innovator and manufacturer of vegetable and fruit-based "clean label" ingredients. The company is best known as the largest provider of "natural cures" (e.g., celery powder) for the meat industry, allowing brands to replace synthetic nitrates with plant-based alternatives in bacon, ham, and sausages. FFP's portfolio also includes natural ingredients for texture improvement, flavor enhancement, and shelf-life extension across the food, beverage, and pet nutrition sectors.
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 FLORIDA FOOD PRODUCTS (FFP)
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