SVELTIC acquired by WHAT S COOKING?
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 LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to 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.
-> 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
LOGIN
Equity Value
LOGIN
Multiples
EV / Revenue
LOGIN
EV / EBITDA
LOGIN
EV / EBIT
LOGIN
Historical Financials (EUR)
Similar deals in AgriFood
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 05/2025 | VIVA WINE GROUP | DELTA WINES | NETHERLANDS | Food Processing | Delta Wines has been acquired by Viva Wine Group, creating a combined entity that operates across eight European countries and serves sixteen markets. The agreement was signed in early 2025 and anticipates closing in May 2025, after regulatory approvals and financing arrangements are completed. Both parties have aligned their corporate structures to facilitate a seamless integration of Delta Wines into Viva Wine Group's existing B2B segment. The acquisition supports Viva Wine Group's objective to broaden its geographic reach beyond the Nordics and to deepen its product offering in continental Europe |
| 05/2025 | GREENCORE GROUP | BAKKAVOR GROUP | UNITED KINGDOM | Food Processing | Greencore has entered into a definitive agreement to merge with Bakkavor, creating a combined UK national food champion with pro-forma revenues of circa £4 billion. The strategic rationale for the deal is the creation of an unrivalled convenience food platform with enhanced category depth and deeper retail relationships. The combination aims to deliver annual run-rate pre-tax cost synergies of at least £80 million by the end of the third year through manufacturing consolidation and procurement efficiencies |
| 03/2025 | BRIDOR | LAURENT BAKERY GROUP | AUSTRALIA | Food Processing | Marking its entry into the Australian market, BRIDOR has completed the acquisition of Laurent Bakery Group from the private equity firm BGH Capital. The strategic rationale for the deal is the acquisition of a turnkey premium industrial platform in the APAC region, perfectly aligned with Bridor’s "premium-only" global positioning. The deal allows Bridor to instantly control a retail network of 15 stores while gaining access to a massive wholesale distribution channel covering 1,000+ supermarkets |
| 01/2025 | ANDROS | DELAFRUIT | SPAIN | Food Processing | Andros has signed an agreement to acquire 100% of Delafruit from the Spanish private equity firm ProA Capital. This strategic acquisition expands Andros' industrial footprint in Spain, adding a specialized facility in Tarragona to its existing plants in Cantabria and Granada. Under ProA Capital's ownership, Delafruit was spun off from Go Fruselva and diversified its portfolio beyond baby food into sports nutrition and adult snacking. |
| 11/2024 | REFRESCO | FRÍAS NUTRICIÓN | SPAIN | Food Processing | Refresco has completed the acquisition of Frías Nutrición, a Spanish specialist in plant-based beverages, following the announcement of the transaction in July 2024 and the satisfaction of regulatory conditions. This move is part of Refresco's "Buy & Build" strategy, aimed at strengthening its presence in the high-growth plant-based beverage segment, which is considered a strategic category within the non-alcoholic beverage industry. The acquisition enables the group to consolidate its position in Spain, where Frías operates a dedicated production facility and maintains strong relationships with major retailers |
| 11/2024 | UNEXO / UNIGRAINS | SAVEL | FRANCE | Food Processing | Groupe SAVEL has opened its capital for the first time to a consortium composed of UNEXO and Unigrains. This minority investment allows the company's President, Marc Léon, to strengthen his position while the family shareholders retain a broad majority. The transaction was supported by a pool of regional banks led by Crédit Agricole du Finistère. The strategic rationale for the partnership is to accelerate the group's development through both organic and inorganic growth. Key focus areas include consolidating its leadership in niche poultry species, diversifying into processed food products, and optimizing logistics |
| 09/2024 | VALEO FOODS GROUP | I.D.C. HOLDING | SLOVAKIA | Food Processing | Valeo Foods Group has agreed to acquire I.D.C. Holding, a major Central European confectionery producer, from its owner Pavol Jakubec. This "transformative" acquisition establishes a strategic cornerstone for Valeo in Eastern Europe, complementing its existing CandyPlus operations in the Czech Republic and Balconi in Italy. The deal adds a portfolio of heritage brands with strong consumer loyalty in the region. |
| 09/2024 | ONE ROCK CAPITAL PARTNERS | EUROPE SNACKS | FRANCE | Food Processing | One Rock Capital Partners signed an agreement to acquire a majority stake in Europe Snacks from Seven2 (formerly Apax Partners), which had held the company since 2013. This exit concludes a decade of transformation under Seven2, during which revenue grew from EUR90 million to EUR700 million through three major build-ups. The financing is secured by a banking pool led by Barclays and Goldman Sachs. |
| 09/2024 | AS EQUITY PARTNERS | HOCHDORF SWISS NUTRITION (HSN) | SWITZERLAND | Food Processing | AS Equity Partners has entered into a binding agreement to acquire Hochdorf Swiss Nutrition (HSN), the core manufacturing subsidiary of the Hochdorf Group. The strategic rationale for the transaction is to preserve HSN’s operational business and its role in the Swiss dairy industry while separating it from the "legacy financial burdens" of its parent holding company, which has entered a debt restructuring moratorium. This carve-out allows HSN to continue its operational turnaround, which achieved positive EBITDA in 2023 for the first time in years, without being constrained by the over-indebtedness of Hochdorf Holding |
| 08/2024 | CINVEN | VITAMIN WELL | SWEDEN | Food Processing | The acquisition of Vitamin Well by Cinven is a strategic move to capitalize on the growing demand for healthier and more active lifestyles. The deal is driven by the attractive characteristics of the health, wellbeing, and fitness sector, which is underpinned by a structural shift away from less healthy snacks and drinks. Vitamin Well's well-established position in the market, its portfolio of high-quality brands, and its track record of profitable organic growth make it an attractive investment opportunity for Cinven |
REFERENCES
Valuation range: EV 10M - 30M EUR
Revenue range: 50M - 100M EUR
EBITDA range: 0M - 5M EUR
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: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Acquirer: what s cooking?