At what enterprise value was KINDRED GROUP acquired in 2024?

During the acquisition of KINDRED GROUP by GROUPE FDJ in 2024, 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 1b - 4b 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 Retail & Consumer industry currently tracks an average EBITDA multiple of 11.5x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of KINDRED GROUP when it was acquired by GROUPE FDJ?

The estimated EV/EBITDA multiple for KINDRED GROUP is in the range of 10x - 18x. For comparison, the Retail & Consumer sector currently shows an average EBITDA multiple of 11.5x. Join our community for free to access full valuation data and industry trends.

When was KINDRED GROUP acquired by GROUPE FDJ?

KINDRED GROUP was acquired by GROUPE FDJ in 2024.

What was the revenue of KINDRED GROUP at the time of the deal?

The revenue of KINDRED GROUP at the time of the deal is estimated to be in the range of 750M - 1.3b EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of KINDRED GROUP during the acquisition?

KINDRED GROUP's EBITDA is estimated to be in the range of 150M - 250M 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 KINDRED GROUP 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 KINDRED GROUP 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.fdjunited.com/fr/presse/fdj-lance-une-offre-publique-dachat-sur-kindred-pour-creer-un-champion-europeen-des-jeux-dargent-et-de-hasard/

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Home Database Retail & ConsumerKINDRED GROUP

01/2024

KINDRED GROUP

Acquired by

GROUPE FDJ

SWEDEN Gambling & Betting EV 1b - 4b EUR

KINDRED GROUP acquired by GROUPE FDJ

SWEDEN Gambling & Betting EV 1b - 4b EUR

Context

Groupe FDJ has launched a recommended public tender offer to acquire 100% of the share capital of Kindred Group. The offer, made at 130 SEK per share, represents a significant premium over Kindred’s historical trading prices (24% over the last closing price and 35% over the 30-day VWAP). This transaction is a transformative step for FDJ, creating a European gambling giant with a highly digitalized profile. The strategic rationale is centered on geographic and product diversification: the combined entity will see its international revenue share jump from 6% to 20%, while digital revenue will double to 29% of the total Gross Gaming Revenue. FDJ specifically targets Kindred’s advanced technological platforms to accelerate its own digital transformation. The deal is unanimously recommended by Kindred's board and has already secured irrevocable undertakings from five major shareholders representing nearly 28% of the capital.

KINDRED GROUP, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Retail & Consumer sector (11.5x).

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.

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Target

Kindred Group is one of Europe’s leading online gambling operators, boasting over 25 years of expertise in the digital gaming sector. The company manages a diverse portfolio of consumer-facing brands, most notably Unibet, alongside 32Red and Maria Casino. Its comprehensive digital offering includes online sports betting, horseracing, poker, and casino games. Kindred operates a sophisticated, proprietary technological platform that enables high-volume digital transactions and advanced data analytics for player protection. With a strong presence in key Western European markets—including the Netherlands, the UK, France, Sweden, and Belgium—the company focuses exclusively on locally regulated markets (or those in the process of regulation). Kindred is recognized for its "Journey towards Zero" initiative, aiming to derive 0% of its revenue from harmful gambling, underlining a business model that balances high-tech entertainment with rigorous social responsibility standards.

Ent. Value

Equity Value

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EV / Revenue

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Historical Financials (EUR)

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2023

2022

Other operations with KINDRED GROUP

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 750M - 1.3b EUR

EBITDA range: 150M - 250M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of KINDRED GROUP by GROUPE FDJ are reserved for mynth community members. Register for free to unlock full data.

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

Press release: view release

Acquirer: groupe fdj