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02/2014

SFK FOOD acquired by SOLINA GROUP

DENMARK Food Processing / Ingredients REV 25M - 50M EUR

Context

Solina Group has acquired the Danish company SFK Food from the private equity fund Odin Equity. This strategic acquisition significantly strengthens Solina's footprint in Northern Europe (Scandinavia), complementing its existing leadership in France and the Benelux. Concurrently, Solina completed a major refinancing of its debt, securing a new package of EUR166 million arranged by CA CIB and BNP Paribas. This financing was used to fund the acquisition of SFK Food and to repay shareholder loans, effectively allowing IK Investment Partners to realize a partial exit (Dividend Recap) while retaining majority ownership.

SFK FOOD, which reported an EBITDA margin of in 2016, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the AgriFood sector (10.7x).

-> Deep-dive in AgriFood market trends

Target

Headquartered in Viborg, Denmark, SFK Food is a leading Scandinavian supplier of spices, marinades, and functional ingredients, primarily serving the meat and poultry processing industry. The company has a strong historical heritage in Denmark and exports to neighboring Nordic countries, the Baltics, and Russia. Before the acquisition, it was owned by the Danish private equity fund Odin Equity.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2016
2015

Similar deals in Food Processing

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
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12/2013DANTE BIGI S.R.L.GRUPPO ALIVALITALYDairy
11/2013EQUISTONEMADEMOISELLE DESSERTSFRANCEBakery / Pastry
11/2013FRUTAROMPTI (PROTEIN TECHNOLOGIES INGREDIENTS GROUP)RUSSIAIngredients
09/2013EQUISTONECHARLES & ALICEFRANCEFood Products
08/2013INVESTCORPTYRRELLSUNITED KINGDOMFood Products
07/2013ARTÉMISMICHEL ET AUGUSTINFRANCEFood Products
07/2011IK PARTNERSSOLINA GROUPFRANCEIngredients

REFERENCES

Revenue range: 25M - 50M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of SFK FOOD by SOLINA GROUP 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.