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05/2017

GROUPE CPK (CARAMBAR POULAIN KREMA) acquired by EURAZEO

FRANCE Food Processing / Food Products EV €300–700M

Context

Following an 18-month "marathon" process, Eurazeo acquired a portfolio of 14 brands from the US giant Mondelez. Eurazeo outbid PAI Partners and Katjes by proposing a robust industrial project. The transition required the creation of a new HQ, recruiting 230 people for corporate functions, and an ambitious EUR35M industrial investment plan—including the repatriation of Terry's production from Poland to Strasbourg. The goal was to transform these "orphan brands" into an autonomous French champion by tripling marketing spend and targeting a 15% EBITDA margin within 5 years.

GROUPE CPK (CARAMBAR POULAIN KREMA), which reported an EBITDA margin of [members only] in 2017, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the AgriFood sector (11.0x).

-> Deep-dive in AgriFood market trends

Target

CPK is a French confectionery leader created in 2017 following the carve-out of 14 iconic brands from Mondelez. The portfolio includes household names such as Carambar, Poulain, Krema, Lutti (acquired in 2018), Michoko, Malabar, and Terry's. The group operates three production sites and one workshop in France, employing over 900 people.

Ent. Value

€300–700M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2017
€250–500M
[members only]
[members only]
2016
€250–500M
[members only]
[members only]

Other operations with GROUPE CPK (CARAMBAR POULAIN KREMA)

Other operations with GROUPE CPK (CARAMBAR POULAIN KREMA)

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
07/2025FERRARA CANDY COMPANYGROUPE CPK (CARAMBAR POULAIN KREMA)FRANCEFood Products

REFERENCES

Valuation range: EV €300–700M

Revenue range: €250–500M

EV/Revenue range: 1x - 3x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of GROUPE CPK (CARAMBAR POULAIN KREMA) by EURAZEO 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.

Acquirer: eurazeo