LIBERTE acquired by YOPLAIT
Context
Yoplait has acquired the Canadian yogurt manufacturer Liberte from private equity owners Swander Pace Capital and Roynat Capital. This acquisition provides Yoplait with a dominant position in the high-growth "Greek" and "Organic" yogurt segments in North America. The deal guarantees the continuity of operations in Quebec, with no planned job cuts. Strategically, this acquisition bolsters Yoplait's portfolio just months before its shareholders (PAI Partners) initiated the sale of their own stake in Yoplait to General Mills.
LIBERTE, which reported an EBITDA margin of [members only] in 2009, 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
Founded in 1928 in Montreal, Liberte is a historic Canadian producer of natural dairy products. Originally a manufacturer of cream cheese and cottage cheese, the company pivoted to specialize in high-quality, clean-label yogurts. It is the market leader in Canada for "Organic" and "Greek" yogurts. With manufacturing facilities in Quebec, Ontario, and British Columbia, the company employs 600 people (280 in Quebec). Liberte has experienced rapid double-digit growth (13% CAGR since 2004), driven by consumer demand for healthier, protein-rich dairy options.
Ent. Value
CAD 100–200M
Equity Value
[members only]
Multiples
EV / Revenue
[members only]
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (CAD)
Similar deals in Food Processing
Similar deals in Food Processing
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 08/2013 | INVESTCORP | TYRRELLS | UNITED KINGDOM | Food Products |
| 07/2013 | ARTÉMIS | MICHEL ET AUGUSTIN | FRANCE | Food Products |
| 07/2011 | IK PARTNERS | SOLINA GROUP | FRANCE | Ingredients |
| 05/2011 | MCH PRIVATE EQUITY | EUROPASTRY | SPAIN | Bakery / Pastry |
| 05/2011 | GENERAL MILLS | YOPLAIT | FRANCE | Dairy |
| 03/2011 | ADVENT INTERNATIONAL | PARTNER IN PET FOOD (PPF) | HUNGARY | Petfood |
| 10/2010 | LBO FRANCE | MATERNE-MONTBLANC (MOM GROUP) | FRANCE | Food Products |
| 07/2009 | DEAN FOODS | ALPRO | BELGIUM | Dairy |
| 06/2007 | ARDIAN | DIANA GROUP | FRANCE | Ingredients |
| 05/2007 | COCA-COLA | GLACEAU | UNITED STATES | Soft Drinks |
Other operations with YOPLAIT
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 05/2011 | GENERAL MILLS | YOPLAIT | FRANCE | Dairy |
REFERENCES
Revenue range: CAD 100–200M
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of LIBERTE by YOPLAIT 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: yoplait