04/2025100%

Sveltic acquired by What S Cooking?

FRANCE Food Processing / Food Products EV €10–30M

Context

What's Cooking? has finalized the acquisition of 100% of Sveltic from Groupement Les Mousquetaires. The deal allows What's Cooking? to expand its product portfolio and manufacturing footprint in France. Crucially, the acquisition includes a continued supply agreement, meaning Sveltic will continue to produce goods for Intermarche/Netto while also opening up capacity for other clients.

Sveltic, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, standing directly in line with the average observed in the AgriFood sector (12.0x in 2025).

-> Deep-dive in AgriFood market trends

Target

Located near Rennes, Sveltic is a specialist manufacturer of fresh and frozen ready meals ("plats cuisines"). Formerly the production arm of the French retail giant "Les Mousquetaires" (Intermarche), the facility produces a wide range of convenience foods.

Ent. Value

€10–30M

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2024

2023

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REFERENCES

Valuation range: EV €10–30M

Revenue range: €50–100M

EBITDA range: €0–5M

EV/Revenue range: below 1.5x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Sveltic by What S Cooking? 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

Acquirer: what s cooking?

FAQ

What transaction does this page cover?

This page covers What S Cooking?’s acquisition of 100% of Sveltic, a French company specialised in Food Products, in 2025.

How was the acquisition of Sveltic by What S Cooking? valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €10–30M band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the below 1.5x range. Exact figures are available to members.

What were Sveltic’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Sveltic generated annual revenue estimated in the €50–100M range and EBITDA in the €0–5M bracket (FY 2024). Detailed financial figures are available to members.

How does the valuation of Sveltic compare to benchmarks in the AgriFood sector?

With an estimated multiple range of 5x - 12x, the transaction stands directly in line with historical averages for the AgriFood sector (12.0x in 2025).

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

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