Investment and M&A transaction comps
Consumer Investment & M&A Transaction Comps
Global consumer investments, capital raises and M&A transactions across CPG, food, beverage, beauty, personal care, wellness, pet and adjacent branded categories.
213
Reviewed transactions
149
With price data
4.1x
Median EV or valuation / revenue
16.3x
Median EV or valuation / EBITDA
| Year | Transactions | Priced | Median EV or valuation / revenue | Median EV or valuation / EBITDA |
|---|---|---|---|---|
| 2026 | 12 | 9 | 4.0x | 9.9x |
| 2025 | 14 | 14 | 3.3x | 12.7x |
| 2024 | 12 | 11 | 3.6x | 16.0x |
| 2023 | 20 | 18 | 4.0x | 20.9x |
| 2022 | 20 | 10 | 4.9x | 20.4x |
| 2021 | 25 | 20 | 4.7x | 15.2x |
| 2020 | 15 | 10 | 4.2x | 14.7x |
| 2019 | 8 | 7 | 4.3x | 17.4x |
Sortable transaction comps
Consumer transaction table
Rows with reported value
8 / 25
Acquisition EV, USD
USD 32B
Investment EV, USD
-
Median EV / revenue
3.8x
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25 shown of 213 matching transactions. Click any transaction row for more detail.
Values are 100% enterprise values. Multiples divide EV by full-company revenue or EBITDA. Reported prices are assumed to be EV; explicit partial-stake prices are grossed up as estimates. Amounts paid are tracked separately.
| Select for comparison | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Annie’s, Inc. Control (100%) | 2014-09-08 | General Mills, Inc. | USD 820M Enterprise Value | 820 | 4.0x | - | United States | Confirmed 3 sources | ||
| Family Dollar Stores, Inc. Control (100%) | 2014-07-28 | Dollar Tree, Inc. | USD 9.2B Enterprise Value | 9,200 | 0.9x | 11.3x | United States | Confirmed 4 sources | ||
| Merck Consumer Care Control | 2014-05-06 | Bayer | USD 14B Consideration | 14,200 | 6.5x | 21.0x | - | Confirmed 1 source | ||
| 2013-10-24 | Permira-backed investment vehicle | GBP 333M Estimated Enterprise Value | 539 | 2.1x | - | United Kingdom | Confirmed 6 sources | |||
| Schiff Nutrition Control | 2012-11-22 | Reckitt Benckiser | Undisclosed | Undisclosed | 4.2x | 19.1x | - | Confirmed 1 source | ||
| SSL International Control | 2010-07-21 | Reckitt Benckiser | Undisclosed | Undisclosed | 3.5x | 20.5x | - | Confirmed 1 source | ||
| BODYARMOR Control (85%) | - | The Coca-Cola Company | USD 6.6B Enterprise Value | 6,588 | - | - | United States | Confirmed 2 sources | ||
| TNT Crust Control | - | General Mills | USD 253M Enterprise Value | 253 | - | - | - | Confirmed 6 sources | ||
| SpikedAde Control | - | Constellation Brands | Undisclosed | Undisclosed | - | - | - | Estimated 2 sources | ||
| TGI Friday License Control | - | Kraft Heinz | Undisclosed | Undisclosed | - | - | International Developed Markets (Kraft Heinz segment use) | Confirmed 6 sources | ||
| WATERPIK Control | - | Church & Dwight | Undisclosed | Undisclosed | - | - | - | Confirmed 11 sources | ||
| Specnova Control | - | HTBA | Undisclosed | Undisclosed | - | - | United States | Confirmed 2 sources | ||
| ANUSOL and RECTINOL Control | - | Church & Dwight Co., Inc. | Undisclosed | Undisclosed | - | - | - | Confirmed 5 sources | ||
| Spencer Forrest, Inc. Control | - | Church & Dwight | Undisclosed | Undisclosed | - | - | - | Confirmed 5 sources | ||
| Fulfil Control | - | The Hershey Company | USD 73.6M Consideration | 74 | - | - | North America | Confirmed 15 sources | ||
| Kraft Foods Group, Inc. (Kraft) Control | - | H.J. Heinz Holding Corporation | Undisclosed | Undisclosed | - | - | - | Confirmed 6 sources | ||
| The Pillsbury Company Control | - | General Mills, Inc. | Undisclosed | Undisclosed | - | - | - | Confirmed 2 sources | ||
| Forest Essentials Control | - | The Estée Lauder Companies Inc. | Undisclosed | Undisclosed | - | - | India | Confirmed 4 sources | ||
| - | GlaxoSmithKline plc | Undisclosed | Undisclosed | - | - | - | Confirmed 4 sources | |||
| M·A·C Control | - | The Estée Lauder Companies Inc. | Undisclosed | Undisclosed | - | - | - | Confirmed 2 sources | ||
| Have & Be Co. Ltd. (Dr.Jart+) Control | - | The Estée Lauder Companies Inc. | Undisclosed | Undisclosed | - | - | South Korea | Confirmed 2 sources | ||
| Barcode Performance Drink Control | - | Axum Capital | Undisclosed | Undisclosed | - | - | - | Confirmed 1 source | ||
| Twinlab Brands Control | - | cbdMD | Undisclosed | Undisclosed | - | - | - | Confirmed 2 sources | ||
| Clio Snacks Control | - | Stride Consumer Partners | Undisclosed | Undisclosed | - | - | United States | Confirmed 3 sources | ||
| GoPro Control (90%) | - | Starman Optical, Inc. | USD 409M Enterprise Value | 409 | - | - | United States | Confirmed 3 sources |
FundComb transaction comps are informational only. Prices are shown as estimated enterprise value where available, with USD used as the default sorting currency; revenue and EBITDA multiples are shown where available. Values may be estimated, rumored, incomplete or derived from public information and should not be relied upon as financial, investment or valuation advice.