Investment and M&A transaction comps
CPG Investment & M&A Transaction Comps
Global CPG and consumer brand investments, capital raises and M&A transactions, including food, beverage, beauty, personal care, supplements and adjacent branded consumer 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
CPG transaction table
Rows with reported value
21 / 25
Acquisition EV, USD
USD 27B
Investment EV, USD
-
Median EV / revenue
4.5x
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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 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Tatcha Control | 2019-06-10 | Unilever | USD 500M Rumored Value | 500 | 5.0x | - | - | Estimated 1 source | ||
| Ranir Global Holdings LLC Control | 2019-05-09 | Perrigo | USD 750M Consideration | 750 | 2.6x | - | Grand Rapids, Michigan, United States | Estimated 1 source | ||
| OLLY Nutrition Control | 2019-04-18 | Unilever | Undisclosed Undisclosed | Undisclosed | 5.0x | 20.0x | United States | Confirmed 1 source | ||
| Primal Nutrition, LLC (Primal Kitchen) Control (100%) | 2018-11-29 | The Kraft Heinz Company | USD 200M Enterprise Value | 200 | 4.0x | - | United States | Confirmed 6 sources | ||
| Ci:z Holdings Co., Ltd. Control | 2018-10-23 | Johnson & Johnson | USD 2.1B | 2,100 | 4.5x | 22.0x | Japan | Confirmed 1 source | ||
| Sonic Corp. (SONIC Drive-In) Control | 2018-09-25 | Inspire Brands, Inc. | USD 2.3B Enterprise Value | 2,300 | 5.4x | 15.3x | United States | Confirmed 5 sources | ||
| Gianni Versace S.p.A. (Versace) Control (100%) | 2018-09-25 | Michael Kors Holdings Limited (renamed Capri Holdings Limited) | EUR 1.8B Enterprise Value | 2,120 | - | - | Italy | Confirmed 11 sources | ||
| 2018-09-12 | The Hershey Company | USD 420M Enterprise Value | 420 | 4.8x | - | United States | Confirmed 3 sources | |||
| Zoës Kitchen, Inc. Control (100%) | 2018-08-17 | CAVA Group, Inc. | USD 300M Enterprise Value | 300 | 1.0x | 16.3x | United States | Confirmed 11 sources | ||
| First Aid Beauty Control | 2018-07-17 | P&G | USD 250M Rumored Value | 250 | 4.5x | - | US | Estimated 1 source | ||
| Probiotics International Control | 2018-07-02 | ADM | USD 243M Consideration | 243 | 5.6x | 21.2x | United Kingdom | Estimated 2 sources | ||
| Pret A Manger Control | 2018-05-29 | JAB Consumer Fund and JAB Holding Company | Undisclosed | Undisclosed | - | - | United Kingdom | Confirmed 1 source | ||
| Tate’s Bake Shop Control | 2018-05-06 | Mondelēz International | USD 500M Enterprise Value | 500 | - | - | United States | Confirmed 7 sources | ||
| Nutranext Control | 2018-03-12 | Clorox | USD 700M Consideration | 700 | 3.5x | 14.0x | - | Estimated 1 source | ||
| Dr Pepper Snapple Group, Inc. Control | 2018-01-29 | Keurig Green Mountain, Inc. | Undisclosed Enterprise Value | Undisclosed | - | - | United States | Confirmed 9 sources | ||
| Sucampo Pharmaceuticals, Inc. Control | 2017-12-26 | Mallinckrodt | USD 1.2B | 1,200 | 4.6x | - | - | Confirmed 1 source | ||
| Snyder's-Lance, Inc. Control (100%) | 2017-12-18 | Campbell Soup Company | USD 6.1B Enterprise Value | 6,100 | 2.8x | 19.9x | United States | Confirmed 5 sources | ||
| Amplify Snack Brands, Inc. Control (100%) | 2017-12-18 | The Hershey Company | USD 1.6B Enterprise Value | 1,600 | 4.3x | 18.8x | United States | Confirmed 4 sources | ||
| PCA Skin and EltaMD Control | 2017-12-18 | Colgate-Palmolive | USD 730M Enterprise Value | 730 | 7.3x | - | - | Estimated 1 source | ||
| Atrium Innovations Control | 2017-12-05 | Nestlé | USD 2.3B Consideration | 2,300 | 3.3x | 19.0x | - | Confirmed 1 source | ||
| Buffalo Wild Wings, Inc. Control (100%) | 2017-11-28 | Arby's Restaurant Group, Inc. | USD 2.9B Enterprise Value | 2,900 | 1.4x | 10.4x | United States | Confirmed 3 sources | ||
| Native Deodorant Control | 2017-11-15 | Procter & Gamble | USD 100M Enterprise Value | 100 | - | - | United States | Confirmed 2 sources | ||
| Ganeden Control | 2017-10-11 | Kerry Group | Undisclosed | Undisclosed | 6.0x | 20.0x | - | Confirmed 1 source | ||
| Chicago Bar Company LLC (RXBAR) Control | 2017-10-06 | Kellogg Company | USD 600M Enterprise Value | 600 | 5.0x | 19.5x | United States | Confirmed 4 sources | ||
| Jimmy Choo PLC Control (100%) | 2017-07-25 | Michael Kors Holdings Limited | GBP 1.0B Enterprise Value | 1,354 | 2.8x | 17.5x | United Kingdom | Confirmed 2 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.