Home Database Industry & ManufacturingPure Trade Worldwide

03/2020MajorityLBO

Sparring Capital takes majority stake in Pure Trade Worldwide

FRANCE Chemicals & Materials / Packaging & Containers EV €50–150M

Context

Sparring Capital acquired a majority stake in Pure Trade alongside the management team. The transaction marked the first deployment of the Sparring Capital Fund 2. The partnership was strictly engineered to accelerate Pure Trade’s international expansion—particularly in the United States—and to professionalize the group’s organization while participating in sector consolidation via external growth. Pure Trade had demonstrated solid fundamentals with an annual growth rate of nearly 20% p.a. over the five years leading up to the transaction.

Previously, Pure Trade Worldwide opened its capital to Initiative & Finance / Isatis Capital in 2015.

Pure Trade Worldwide, which reported an EBITDA margin of [members only] in 2019, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, standing directly in line with the average observed in the Industry & Manufacturing sector (11.6x in 2020).

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Target

Founded in 1996, Pure Trade is a prominent player in the market for high-end promotional products and packaging specifically tailored for luxury cosmetic and perfume brands. The group operates a "fabless" business model, leveraging an extensive international network of certified suppliers to offer flexible, eco-friendly, and innovative designs. Its client roster includes prestigious names such as Dior, Guerlain, YSL, and Armani. Headquartered in Paris, the company has a global presence with offices in New York, Hong Kong, London, and Barcelona.

Ent. Value

€50–150M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2019

2018

Other operations with Pure Trade Worldwide

Other operations with Pure Trade Worldwide
Date	Acquirer	Target	Country	Sector
07/2023	AGIC CAPITAL	PURE TRADE WORLDWIDE	FRANCE	Packaging & Containers
05/2015	INITIATIVE & FINANCE / ISATIS CAPITAL	PURE TRADE WORLDWIDE	FRANCE	Packaging & Containers

Other operations with Sparring Capital

Other operations with Sparring Capital
Date	Acquirer	Target	Country	Sector
12/2025	SPARRING CAPITAL	ELEC 44	FRANCE	Specialized E-commerce
09/2010	SPARRING CAPITAL	IMV TECHNOLOGIES	FRANCE	R&D Biotech

Similar deals in Chemicals & Materials

Similar deals in Chemicals & Materials
Date	Acquirer	Target	Country	Sector
07/2020	PARTNERS GROUP	ROVENSA	PORTUGAL	Specialty Chemicals
06/2020	CEREA PARTNERS / BPIFRANCE	AXIUM PACKAGING	FRANCE	Plastic Packaging
03/2020	ALLIANCE ETIQUETTES	5 SEPT ETIQUETTE	FRANCE	Labels & Adhesives
02/2020	SOFIMAC REGIONS / ESFIN PARTICIPATIONS	PONCIN METAL	FRANCE	Metallurgy / Foundry
01/2020	KAMAN CORPORATION	BAL SEAL ENGINEERING	UNITED STATES	Plastics
01/2020	COBEPA	GERFLOR	FRANCE	Flooring
12/2019	GREEN ARROW CAPITAL	POPLAST	ITALY	Plastic Packaging
08/2019	SIPAREX	CLAYENS GROUP	FRANCE	Plastics
07/2019	TEKNI-PLEX	LAMEPLAST	ITALY	Plastic Packaging
04/2019	BLACKSTONE	ESSEL PROPACK	INDIA	Plastic Packaging

REFERENCES

Valuation range: EV €50–150M

Revenue range: €50–100M

EBITDA range: €5–25M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Pure Trade Worldwide by Sparring 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.

Press release: view release

Target: pure trade worldwide

Acquirer: sparring capital

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Pure Trade Worldwide, a French company specialised in Packaging & Containers, by Sparring Capital in 2020, structured as a leveraged buyout (LBO). This followed a prior holding cycle initiated by Initiative & Finance / Isatis Capital in May 2015, before ownership was subsequently transferred to Agic Capital in July 2023 (see dedicated deal pages for details).

How was the acquisition of Pure Trade Worldwide by Sparring Capital valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €50–150M band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Pure Trade Worldwide’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Pure Trade Worldwide generated annual revenue estimated in the €50–100M range and EBITDA in the €5–25M bracket (FY 2019). Detailed financial figures are available to members.

How does the valuation of Pure Trade Worldwide compare to benchmarks in the Industry & Manufacturing sector?

With an estimated multiple range of 10x - 18x, the transaction stands directly in line with historical averages for the Industry & Manufacturing sector (11.6x in 2020).

What sources support the information on this transaction?

Information on this transaction is sourced from the official corporate announcement published by the parties, corroborated by a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

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