At what enterprise value was SOCIÉTÉ DES EAUX MINÉRALES D’ARCACHON (SEMA) acquired in 2026?

You can find the full valuation details of SOCIÉTÉ DES EAUX MINÉRALES D’ARCACHON (SEMA) 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 10.8x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of SOCIÉTÉ DES EAUX MINÉRALES D’ARCACHON (SEMA) when it was acquired by NEXTSTAGE?

The exact EV/EBITDA multiple for SOCIÉTÉ DES EAUX MINÉRALES D’ARCACHON (SEMA) is available on mynth capital. For comparison, the AgriFood sector currently shows an average EBITDA multiple of 10.8x. Join our community for free to access full valuation data and industry trends.

What was the revenue of SOCIÉTÉ DES EAUX MINÉRALES D’ARCACHON (SEMA) at the time of the deal?

The revenue of SOCIÉTÉ DES EAUX MINÉRALES D’ARCACHON (SEMA) at the time of the deal is estimated to be in the range of 10M - 30M EUR. Register for free to access the full transaction report and exact valuation multiples.

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 SOCIÉTÉ DES EAUX MINÉRALES D’ARCACHON (SEMA) 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 SOCIÉTÉ DES EAUX MINÉRALES D’ARCACHON (SEMA) 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.lesechos.fr/industrie-services/conso-distribution/eau-minerale-a-arcachon-abatilles-sallie-au-fonds-nextstage-pour-doubler-de-taille-en-cinq-ans-2222555

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Home Database AgriFoodSOCIÉTÉ DES EAUX MINÉRALES D’ARCACHON (SEMA)

03/2026

SOCIÉTÉ DES EAUX MINÉRALES D’ARCACHON (SEMA) acquired by NEXTSTAGE

FRANCE Food Processing / Beverages / Soft Drinks REV 10M - 30M EUR

Context

NextStage AM has acquired a majority stake in the Société des Eaux Minérales d’Arcachon (SEMA), taking over from the long-term owner and wine merchant Jean Merlaut, who exited his entire position. The transaction was carried out pari passu through the NextStage Evergreen vehicle and the "Pépites & Territoires" FPCI, representing a combined equity ticket of €30 million. Hervé Maudet, the co-owner and long-standing director of the company, has been appointed President and maintains a minority stake in the new structure. The strategic rationale for the acquisition is focused on transforming SEMA from a regional powerhouse into a national premium brand. With the company currently producing 50 million bottles annually and generating approximately 50% of its revenue from the restaurant trade, NextStage aims to double the size of the business over the next five years. The strategy involves strengthening the premium brand identity of the Abatilles and Source des Pins labels and expanding distribution networks significantly beyond the Southwest region of France. A key factor in the investment decision was SEMA’s superior water resource availability, with current extraction volumes remaining well below authorized administrative limits, providing a clear path for organic growth without the resource constraints faced by competitors. The deal was supported by a senior debt package (Tranches A and B) provided by the company’s historical banking pool and followed a competitive process involving generalist funds and family offices.

SOCIÉTÉ DES EAUX MINÉRALES D’ARCACHON (SEMA), which reported an EBITDA margin of LOGIN in 2025, 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 (10.8x).

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.

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Target

Founded in the early 20th century, the Société des Eaux Minérales d’Arcachon (SEMA) is a premium French mineral water producer owning the renowned "Abatilles" and "Source des Pins" natural springs. Located in the Arcachon Bay, the company operates a vertically integrated business model ranging from water extraction at deep natural sources to bottling and multi-channel distribution. Its value proposition is built on the high-end positioning of its mineral waters, which are recognized for their purity and specific geological properties. SEMA serves a diverse client base, with a significant presence in the high-end restaurant sector (CHR) and specialized retail. The company’s strategy focuses on maintaining the ecological integrity of its two natural springs while capitalizing on the premium bottled water trend. By holding extraction permits that significantly exceed current production levels, the company possesses a unique competitive advantage in terms of scalable resource availability compared to other regional players. Its portfolio includes still and sparkling varieties, marketed as regional heritage products with a strong emphasis on artisanal quality and local terroir.

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REFERENCES

Revenue range: 10M - 30M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of SOCIÉTÉ DES EAUX MINÉRALES D’ARCACHON (SEMA) by NEXTSTAGE 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).

Acquirer: nextstage