At what enterprise value was MICHEL ET AUGUSTIN acquired in 2023?

You can find the full valuation details of MICHEL ET AUGUSTIN on mynth capital. 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 10.7x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of MICHEL ET AUGUSTIN when it was acquired by THE FERRERO GROUP?

The exact EV/EBITDA multiple for MICHEL ET AUGUSTIN is available on mynth capital. For comparison, the AgriFood sector currently shows an average EBITDA multiple of 10.7x. Join our community for free to access full valuation data and industry trends.

When was MICHEL ET AUGUSTIN acquired by THE FERRERO GROUP?

MICHEL ET AUGUSTIN was acquired by THE FERRERO GROUP in 2023.

What was the revenue of MICHEL ET AUGUSTIN at the time of the deal?

The revenue of MICHEL ET AUGUSTIN at the time of the deal is estimated to be in the range of 25M - 50M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of MICHEL ET AUGUSTIN during the acquisition?

MICHEL ET AUGUSTIN's EBITDA is estimated to be in the range of 0M - 5M 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 MICHEL ET AUGUSTIN 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 MICHEL ET AUGUSTIN 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.ferrero.com/int/en/news-stories/news/ferrero-affiliated-companies-acquisition-michel-et-augustin

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Home Database AgriFoodMICHEL ET AUGUSTIN

12/2023

MICHEL ET AUGUSTIN acquired by THE FERRERO GROUP

FRANCE Food Processing / Food Products REV 25M - 50M EUR

Context

n 2023, Danone entered into exclusive negotiations with CTH Invest, an affiliate of the Ferrero group, to divest Michel & Augustin, in which it held a 100% stake following a gradual acquisition process initiated in 2016. This transaction is part of Danone's portfolio review and its strategy to refocus on its core activities, which are deemed more conducive to growth and value creation. Michel & Augustin no longer aligns with Danone's investment priorities, particularly in terms of its growth performance, profitability (historically negative EBITDA margin), and strategic positioning. For Ferrero, the acquisition is a strategic expansion into the biscuit and snacking segment, an area where the Italian group has already made several external growth transactions in Europe (Delacre, Fox's, Burton's Biscuit Company) and developed its own brands. The addition of Michel & Augustin would strengthen Ferrero's portfolio of premium brands in the biscuit and snack categories, with a complementary positioning to the group's existing brands. The potential integration would also enable Ferrero to broaden its presence in the French market and certain European regions.

MICHEL ET AUGUSTIN, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the AgriFood sector (10.7x).

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

Michel & Augustin is a French food company founded in 2004 by Michel de Rovira and Augustin Paluel-Marmont. The brand has developed a range of mass-market food products, focusing on biscuits, yogurts, desserts, and beverages, with a strong brand identity and distinctive marketing tone. Initially, the company concentrated on bakery and biscuit products (cookies, shortbread, and savory biscuits), before gradually expanding its portfolio to include dairy products (drinking yogurts and desserts) and beverages. One of its iconic products is the "drinking cow" yogurt, which has contributed significantly to the brand's reputation. Michel & Augustin operates on a business model that prioritizes mass-market consumption, combining in-house product development with a robust branding strategy. The company has primarily built its distribution network through large retail channels, with a growing international presence, particularly in the United States, where it has sought to establish itself through distribution partnerships. The brand has distinguished itself through a highly differentiated marketing approach, relying on storytelling, humor, and a strong connection with consumers, which has contributed to its visibility despite limited advertising budgets compared to major industry players.

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Other operations with MICHEL ET AUGUSTIN

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
04/2019	DANONE	MICHEL ET AUGUSTIN	FRANCE	Food Processing	Danone has completed the acquisition of a majority stake in Michel & Augustin, increasing its ownership to 95% through its Danone Manifesto Ventures entity. This transaction follows an initial investment in 2016, which represented a 40% stake, and subsequent gradual increases in ownership over the years
06/2016	DANONE	MICHEL ET AUGUSTIN	FRANCE	Food Processing	Danone has acquired a 40% stake in Michel & Augustin through its Danone Manifesto Ventures arm, as part of a structured transaction that enables a gradual increase in the French group's capital. This deal was completed through the purchase of shares from the founders and the Artemis holding company, owned by the Pinault family
07/2013	ARTÉMIS	MICHEL ET AUGUSTIN	FRANCE	Food Processing	In July 2013, the Artémis group, the holding company of the Pinault family, which had already been a minority shareholder since 2008, significantly strengthened its stake in Michel & Augustin. Following the transaction, Artémis gained control of the company by increasing its ownership to approximately 70% through a combination of share buybacks from existing shareholders and a capital increase

REFERENCES

Revenue range: 25M - 50M EUR

EBITDA range: 0M - 5M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of MICHEL ET AUGUSTIN by THE FERRERO 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).

Press release: view release

Target: michel et augustin

Acquirer: the ferrero group