At what enterprise value was KEVIN'S NATURAL FOODS acquired in 2023?

During the acquisition of KEVIN'S NATURAL FOODS by MARS in 2023, the transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b USD.

When was KEVIN'S NATURAL FOODS acquired by MARS?

KEVIN'S NATURAL FOODS was acquired by MARS in 2023.

What was the revenue of KEVIN'S NATURAL FOODS at the time of the deal?

The revenue of KEVIN'S NATURAL FOODS at the time of the deal is estimated to be in the range of 100M - 200M USD.

How is the data for the KEVIN'S NATURAL FOODS 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 KEVIN'S NATURAL FOODS 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://www.mars.com/news-and-stories/press-releases-statements/mars-acquires-nutritious-meal-company-kevins-natural-foods

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Home Database AgriFoodKEVIN'S NATURAL FOODS

07/2023

KEVIN'S NATURAL FOODS acquired by MARS

UNITED STATES Food Processing / Food Products EV 500M - 1.5b USD

Context

Mars, Incorporated has entered into a definitive agreement to acquire Kevin's Natural Foods. This acquisition marks a significant step in Mars Food & Nutrition's strategy to expand into the high-growth "healthy eating" segment. Kevin's Natural Foods will operate as a standalone brand within the Mars Food & Nutrition division, retaining its entrepreneurial culture while leveraging Mars' global distribution network and R&D capabilities to scale. The deal provides an exit for early investors Towerbrook Capital and NewRoad Capital.

KEVIN'S NATURAL FOODS, which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the AgriFood sector (10.7x).

-> Deep-dive in AgriFood market trends

Target

Founded in 2019 and headquartered in Modesto, California, Kevin's Natural Foods is a fast-growing producer of healthy, refrigerated entrees, sides, and sauces. The company was co-founded by Kevin McCray, Dan Costa, and Kelsie Costa-Olson after McCray sought dietary solutions for an autoimmune disorder. Kevin's utilizes a proprietary sous-vide cooking method to create tender, shelf-stable (refrigerated) meats that are Paleo, Keto, and Gluten-Free certified, without sacrificing flavor. The company was previously backed by private equity firms Towerbrook Capital Partners and NewRoad Capital Partners.

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2022

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REFERENCES

Valuation range: EV 500M - 1.5b USD

Revenue range: 100M - 200M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of KEVIN'S NATURAL FOODS by MARS 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: kevin's natural foods