At what enterprise value was FRULACT acquired in 2025?

During the acquisition of FRULACT by NEXTURE in 2025, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the AgriFood industry currently tracks an average EBITDA multiple of 10.5x, providing a valuable benchmark for this transaction.

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. For comparison, the AgriFood sector currently shows an average EBITDA multiple of 10.5x. Join our community for free to access full valuation data and industry trends.

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. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of FRULACT during the acquisition?

FRULACT's EBITDA is estimated to be in the range of 25M - 50M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

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.

← DATABASE

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).

As a reminder, the company was previously involved in a leveraged buyout led by Ardian in 2020.

FRULACT, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the AgriFood sector (10.5x).

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.

-> 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, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
01/2020	ARDIAN	FRULACT	PORTUGAL	Food Processing	Ardian has acquired a majority stake in Frulact from the founding Miranda family. The transaction values the company at approximately EUR150 million. The management team, led by CEO Duarte Faria, remains in place to drive the next phase of growth, while the founder retains a role as Non-Executive Chairman. Ardian's strategy is to use Frulact as a consolidation platform to build a global leader in natural food ingredients through acquisitions in adjacent niches.

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: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: frulact

Acquirer: nexture