FRULACT has been 100% owned by NEXTURE since November 2025.

At what enterprise value was FRULACT acquired in 2025?

During the acquisition of FRULACT by NEXTURE in 2025, the transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b EUR.

What was the EV/EBITDA of FRULACT when it was acquired by NEXTURE?

The estimated EV/EBITDA multiple for FRULACT is in the range of 10x - 18x.

When was FRULACT acquired by NEXTURE?

FRULACT was acquired by NEXTURE in 2025.

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

The revenue of FRULACT at the time of the deal is estimated to be in the range of 250M - 500M EUR.

What was the EBITDA of FRULACT during the acquisition?

FRULACT's EBITDA is estimated to be in the range of 25M - 50M EUR.

How is the data for the FRULACT 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 FRULACT 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://econews.pt/2025/11/10/frulact-changes-hands-from-french-to-italian-ownership-in-a-e600-million-deal/#:~:text=Frulact's%20annual%20revenues%20currently%20stand,%E2%82%AC45%20million%20this%20year.

What is the average EV/EBITDA multiple for the AgriFood sector in 2026?

The average EV/EBITDA multiple for the AgriFood sector in 2026 is 11.0x.

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Home Database AgriFoodFRULACT

11/2025

FRULACT acquired by NEXTURE

PORTUGAL Food Processing / Ingredients EV 500M - 1.5b EUR

Context

Investindustrial, through its ingredient holding company Nexture, has agreed to acquire Frulact from Ardian. Nexture prevailed in a competitive process against finalists including the Jose de Mello Group and IK Partners. This acquisition integrates Frulact into a broader pan-European ingredient platform alongside Italcanditi and CSM Ingredients. The deal marks a successful exit for Ardian, which supported Frulact's transformation from a family business to a global player via organic growth and M&A (IFF acquisition).

Previously, Frulact had been acquired in an LBO by Ardian in 2020.

FRULACT, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the AgriFood sector (11.0x).

-> Deep-dive in AgriFood market trends

Target

Founded in 1987 in Portugal, Frulact is a specialized producer of value-added ingredients for the food and beverage industry. It focuses on fruit preparations, plant-based ingredients, and flavorings used in yogurts, dairy desserts, ice creams, and beverages. The company operates 9 production facilities across Europe (Portugal, France), Africa (South Africa, Morocco), and North America (Canada). It sells to major global food groups in over 40 countries.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2025

2024

Other operations with FRULACT

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
01/2020	ARDIAN	FRULACT	PORTUGAL	Ingredients

REFERENCES

Valuation range: EV 500M - 1.5b EUR

Revenue range: 250M - 500M EUR

EBITDA range: 25M - 50M EUR

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

Target: frulact

Acquirer: nexture