PANZANI ALIMENTATION SANTÉ acquired by MIDSONA
Context
Midsona acquired 100% of the share capital of Alimentation Santé from Panzani SAS. The transaction was structured via a definitive share purchase agreement executed on a debt-free and cash-free basis, with the total consideration settled entirely in cash at closing. To finance the acquisition, Midsona secured a short-term bank bridge loan, which was later refinanced through an equity rights issue backed by its majority shareholder, Stena Adactum AB. This acquisition enabled the immediate integration of Alimentation Santé into Midsona's expanding European network as a standalone operating entity. Long-standing Managing Director Marjolaine Cevoz Goyat retained her position at the operational helm to ensure continuity across regional business activities.
PANZANI ALIMENTATION SANTÉ, which reported an EBITDA margin of LOGIN in 2018, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Business Services sector (11.1x).
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Target
Panzani Alimentation Santé is a premier European corporate platform specializing in the development, manufacture, and multi-channel commercialization of premium 100% organic and plant-based food products. Operating through prominent wholly owned operating subsidiaries, notably Celnat in France and Vegetalia and Satoki in Spain, the company controls an extensive and diversified portfolio of high-growth product categories. Its commercial offerings range from pioneer dry grocery staples, breakfast cereals, flaked grains, and organic flour to highly technical fresh plant-based meat alternatives and vegetable proteins, including tofu, seitan, and tempeh. With institutional roots tracing back to 1979, the group runs sophisticated, specialized manufacturing assets across Southern Europe, utilizing a workforce of approximately 150 employees to drive
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Historical Financials (EUR)
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REFERENCES
Valuation range: EV 50M - 150M EUR
Revenue range: 25M - 50M EUR
EBITDA range: 0M - 5M EUR
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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).
Acquirer: midsona