At what enterprise value was LUCAS BOLS COMPANY acquired in 2023?

During the acquisition of LUCAS BOLS COMPANY by NOLET GROUP in 2023, 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 300M - 700M 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 AgriFood industry currently tracks an average EBITDA multiple of 10.2x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of LUCAS BOLS COMPANY when it was acquired by NOLET GROUP?

The estimated EV/EBITDA multiple for LUCAS BOLS COMPANY is in the range of 10x - 18x. For comparison, the AgriFood sector currently shows an average EBITDA multiple of 10.2x. Join our community for free to access full valuation data and industry trends.

When was LUCAS BOLS COMPANY acquired by NOLET GROUP?

LUCAS BOLS COMPANY was acquired by NOLET GROUP in 2023.

What was the revenue of LUCAS BOLS COMPANY at the time of the deal?

The revenue of LUCAS BOLS COMPANY at the time of the deal is estimated to be in the range of 100M - 200M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of LUCAS BOLS COMPANY during the acquisition?

LUCAS BOLS COMPANY's EBITDA is estimated to be in the range of 10M - 30M 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 LUCAS BOLS COMPANY 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 LUCAS BOLS COMPANY 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://noletdistillery.com/wp-content/uploads/2023/10/231009-Press-Release-Nolet-and-Lucas-Bols-to-create-Dutch-champion-in-the-global-spirits-and-cocktail-market.pdf

← DATABASE

Home Database AgriFoodLUCAS BOLS COMPANY

10/2023

LUCAS BOLS COMPANY acquired by NOLET GROUP

NETHERLANDS Food Processing / Beverages / Wines & Spirits EV 300M - 700M EUR

Context

Nolet Distillery launched a recommended public offer to acquire all issued and outstanding ordinary shares of Lucas Bols Company, marking a significant consolidation within the Dutch spirits industry. This public-to-private transaction was motivated by a shared strategic vision to create a "Dutch champion" in the global cocktails and spirits market. The acquisition allows Lucas Bols to preserve over 450 years of craftsmanship and heritage under the stewardship of a long-term, family-owned strategic ally. By delisting from the public market, Lucas Bols can pivot its growth strategy toward long-term brand fortification and innovation, insulated from the volatility of short-term financial market demands. The deal ensures operational continuity, with Lucas Bols retaining its identity, name, and Amsterdam-based headquarters under its existing leadership team. This merger of two historic distillers—combining Nolet’s global vodka and gin strength with Lucas Bols’ versatile cocktail portfolio—provides a robust foundation for expedited international growth and protects the traditional craftsmanship of the Dutch distilling sector for future generations.

Previously, the company had pursued a consolidation strategy by acquiring Tequila Partida (2021) and FluèRe (2023).

LUCAS BOLS COMPANY, 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 AgriFood sector (10.2x).

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.

-> Deep-dive in AgriFood market trends

Target

Established in 1575 in Amsterdam, Lucas Bols Company is one of the world's oldest active Dutch companies and a global leader in the cocktail and spirits market. The company’s extensive portfolio includes renowned brands such as Bols (marketed as "The World's First Cocktail Brand"), Passoã, Galliano, and Tequila Partida. Its business model focuses on the artisanal craftsmanship of liqueurs, genever, gin, and vodka, aiming to create high-quality cocktail experiences worldwide. Lucas Bols maintains deep ties to Amsterdam's heritage and professional mixology culture, operating through a global distribution network that serves bars, restaurants, and retail consumers. The company’s strategy emphasizes brand innovation and maintaining a versatile range of spirits that cater to evolving consumer tastes in the global "home-cocktail" and professional bartending segments.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2023

2022

Other operations with LUCAS BOLS COMPANY

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
02/2023	LUCAS BOLS COMPANY	FLUÈRE	NETHERLANDS	Food Processing	Lucas Bols completed the acquisition of 100% of Fluère to strategically enter the rapidly growing non-alcoholic spirits market. This "bolt-on" acquisition allows Lucas Bols to capitalize on the "mindful drinking" trend, providing a sophisticated alcohol-free alternative to its global client base of professional bartenders and distributors
12/2021	LUCAS BOLS COMPANY	TEQUILA PARTIDA	UNITED STATES	Food Processing	Lucas Bols entered into an agreement to acquire 100% of Tequila Partida LLC, including its Mexican subsidiaries Casa Partida and Tequila Partida de Mexico, from the Shansby Trust and Edrington USA. This acquisition is a strategic move to integrate one of the fastest-growing spirits categories into the Lucas Bols portfolio, specifically targeting the high-growth ultra-premium tequila segment in the United States

REFERENCES

Valuation range: EV 300M - 700M EUR

Revenue range: 100M - 200M EUR

EBITDA range: 10M - 30M EUR

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

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

Target: lucas bols company