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09/2021

MARKAL acquired by FRENCH FOOD CAPITAL, BPIFRANCE & TIKEHAU CAPITAL

FRANCE Food Processing / Food Products EV 50M - 150M EUR

Context

Lionel Wolberg, leading a prominent financial consortium comprising FrenchFood Capital, Bpifrance, and Tikehau Capital, has successfully completed the acquisition of Markal. This strategic corporate transmission represents a major milestone for the Drôme-based pioneer, which boasts an established revenue profile of EUR 68 million and a workforce of approximately 70 employees. The transaction architecture was structured to ensure long-term corporate stability and continuity, with the historical founding Markarian family rolling over a portion of their assets to retain a meaningful minority stake alongside the new ownership. Strategic rationale for this buyout includes the professionalization of Markal's leadership and the institutionalization of its extensive sourcing and distribution capabilities. By appointing Lionel Wolberg as President, the company gains access to deep sector expertise and significant financial backing from dedicated agri-food and institutional investment funds. The incoming capital and strategic guidance will be deployed to accelerate Markal's product innovation pipeline, reinforce its sustainable agricultural partnerships, and scale its commercial footprint across specialized European organic retail networks and international export channels.

MARKAL, which reported an EBITDA margin of in 2020, is valued in this transaction at an EV/EBITDA multiple of .

Target

Markal is an emblematic French industrial enterprise and a pioneer in the organic food sector, specializing in the manufacturing and distribution of premium dry organic groceries. Founded in 1936 and headquartered in Saint-Marcel-lès-Valence (Drôme), the company manages a comprehensive portfolio of over 1,000 SKUs, ranging from cereals and pulses to specialized plant-based products. With a deep-rooted heritage spanning three generations, the firm operates a sophisticated 14,000 m² integrated site dedicated to production, packaging, and logistics. Markal has successfully institutionalized its ancestral know-how, achieving a turnover of EUR 68 million (FY 2020), with approximately 15% of its revenues derived from international operations across 40 countries. The company holds a prominent leadership position within the French organic landscape, characterized by its historical legitimacy and extensive market penetration. As a "pioneer of the plant-based movement," Markal is a cornerstone supplier for 100% of specialized organic retail networks in France, maintaining a dominant presence through both direct distribution and regional wholesale partnerships.

Ent. Value

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Historical Financials (EUR)

Year
Rev
EBITDA
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2020
2019

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REFERENCES

Valuation range: EV 50M - 150M EUR

Revenue range: 50M - 100M EUR

EBITDA range: 5M - 25M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of MARKAL by FRENCH FOOD CAPITAL / BPIFRANCE / TIKEHAU CAPITAL 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: markal

Acquirer: tikehau capital / french food capital / bpifrance