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06/2014

LABEYRIE FINE FOODS acquired by PAI PARTNERS

FRANCE Food Processing / Food Products EV 500M - 1.5b EUR

Context

PAI Partners acquired a 50% stake in Labeyrie Fine Foods, replacing the outgoing sponsor LBO France. The transaction valued the company at approximately EUR600 million. The historic shareholder, the Lur Berri cooperative, retained the other 50% stake, maintaining a co-control governance structure. PAI's entry was aimed at accelerating Labeyrie's international expansion and consolidating the fragmented premium food market in Europe.

LABEYRIE FINE FOODS, which reported an EBITDA margin of in 2014, 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

Labeyrie Fine Foods is a leading European producer of "accessible premium" food products. The group owns iconic brands such as Labeyrie (foie gras, smoked salmon), Blini (tarama, blinis), and Delpierre (seafood). It operates a vertically integrated model, securing high-quality raw materials through its partnership with the Lur Berri cooperative. At the time of the deal, the group was a dominant player in the festive food market in France and the UK.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2014
2013

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03/2014CHARTERHOUSENUOVA CASTELLIITALYDairy
02/2014SOLINA GROUPSFK FOODDENMARKIngredients
02/2014RIVERSIDECASA OPTIMAITALYIngredients
12/2013DANTE BIGI S.R.L.GRUPPO ALIVALITALYDairy
11/2013EQUISTONEMADEMOISELLE DESSERTSFRANCEBakery / Pastry
11/2013FRUTAROMPTI (PROTEIN TECHNOLOGIES INGREDIENTS GROUP)RUSSIAIngredients

REFERENCES

Valuation range: EV 500M - 1.5b EUR

Revenue range: 450M - 900M EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of LABEYRIE FINE FOODS by PAI PARTNERS 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: labeyrie fine foods

Acquirer: pai partners