Blackmores acquired by Kirin
Kirin agreed to acquire Blackmores, an Australian vitamins & supplements brand, on Apr 26, 2023.
Transaction summary
Value and multiples
100% enterprise value
USD 1.2B
100% enterprise value | USD
Basis: Public source
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
EV / revenue
2.9x
Period not stated
Basis: FundComb estimate
EV / EBITDA
23.1x
EBITDA basis not stated
Basis: Derived from source data
Basis
- EBITDA derived as enterprise value / EV/EBITDA = A$1,840,000,000 / 23.1 = A$79,653,680. EV source: https://smallcaps.com.au/article/blackmores-kirin-takeover-kogan-profitable-sales-soften-megaport-higher-ebitda. Multiple source: https://www.australianshareholders.com.au/wp-content/uploads/2023/08/BKL_SchemeMeeting_FY23.pdf
Other reviewed estimates
Earlier estimates and their sources.
Source summary
Japan's Kirin agrees $1.2 billion for Australia's Blackmores in diversification push - Reuters
ConfirmedThorne HealthTech Schedule 14D-9/A
EstimatedPrecedent transaction row lists implied TEV of $1,241m and TEV/LTM Adjusted EBITDA of 23.1x.
Open sourceBlackmores sale to Kirin: Shareholders vote required
EstimatedShareholder-vote note says the A$95 scheme consideration was fair and reasonable and equated to an acquisition multiple of 23.1x Blackmores EV/EBITDA for the 12 months to Dec. 2022. A separate public article reports the deal implied A$1.88bn equity value and A$1.84bn enterprise value.
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