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11/2020

SUNOPTA - GLOBAL INGREDIENTS BUSINESS acquired by AMSTERDAM COMMODITIES

NETHERLANDS Food Processing / Ingredients EV €300–700M

Context

Amsterdam Commodities N.V. (Acomo) has acquired the Global Ingredients business of SunOpta Inc. in a debt-free, cash-free transaction. This transformative acquisition adds Tradin Organic, a global leader in organic ingredients, to Acomo's existing portfolio of conventional commodities (spices, tea, seeds). For SunOpta, the divestiture represents a strategic pivot to focus exclusively on its high-growth, plant-based food and beverage manufacturing business. The deal proceeds were used by SunOpta to pay down debt and fund capacity expansion in plant-based milk production. The transaction adds approximately EUR450 million in revenue to Acomo and significantly expands its footprint in the "healthy and sustainable" food segment.

SUNOPTA - GLOBAL INGREDIENTS BUSINESS, which reported an EBITDA margin of [members only] in 2020, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a discount to the average currently observed in the AgriFood sector (11.0x).

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Target

The Global Ingredients segment of SunOpta, operating primarily under the name Tradin Organic, is a leading global sourcer, processor, and supplier of organic food ingredients. It offers a wide portfolio of over 100 organic commodities including cocoa, coffee, fruits, nuts, and seeds. The business is vertically integrated with its own sourcing projects and processing facilities in the Netherlands (Amsterdam), Bulgaria (Silistra), Ethiopia (Addis Ababa, Yirgalem), and the USA. It serves the organic food industry worldwide, connecting local farmers in developing countries with major consumer brands.

Ent. Value

€300–700M

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2020
€250–500M
€25–50M
[members only]
2019
€250–500M
€25–50M
[members only]

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DateAcquirerTargetCountrySector
12/2020APHEON (EX ERGON)MILLBO BIONATURALS GROUPITALYIngredients
12/2020CRONOS CAPITAL PARTNERSEVERTONITALYCoffee & Tea
11/2020PLATINUM EQUITYBISCUIT INTERNATIONALFRANCEFood Products
11/2020RHONE CAPITALILLYCAFFÈITALYBeverages
10/2020HAUDECOEURPALAIS IMPÉRIALFRANCECoffee & Tea
08/2020GLANDIA NUTRITIONALSFOODAROMCANADAIngredients
06/2020ROYAL DSMERBER GROUPAUSTRIAPetfood
01/2020AROMATAGROUPNACTIS FLAVOURSFRANCEIngredients
01/2020BEMYCOMPANY CAPITAL PARTNERACETAIA FONDO MONTEBELLOITALYFood Products
01/2020BEMYCOMPANY CAPITAL PARTNERSACETAIA FONDO MONTEBELLOITALYFood Products

REFERENCES

Valuation range: EV €300–700M

Revenue range: €250–500M

EBITDA range: €25–50M

EV/Revenue range: below 1.5x

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 SUNOPTA - GLOBAL INGREDIENTS BUSINESS by AMSTERDAM COMMODITIES 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.

Target: sunopta - global ingredients business

Acquirer: amsterdam commodities