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    Food & Agriculture Q1 2021

    Q1 2021 Food Agriculture

    M&A Transaction Trends

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Nestlé Waters North America Inc.
    • One Rock Capital Partners, LLC; Metropoulos & Co.
    • $4,300.00
    • Wine And Spirits Portfolio Of Constellation Brands, Inc.
    • E. & J. Gallo Winery, Inc.
    • $810.00
    • QuickChek Corporation
    • Murphy USA Inc.
    • $645.00
    • Green Garden Products LLC
    • Central Garden & Pet Company
    • $532.00
    • Paul Masson Grande Amber Brandy Brand of Constellation Brands, Inc.
    • Sazerac Company, Inc.
    • $265.00
    • Wholesome Sweeteners, Inc.
    • Whole Earth Brands, Inc.
    • $240.50
    • Hu Master Holdings, LLC
    • Mondelez International, Inc.
    • $231.00
    • Controlled Environment Agriculture (CEA) Facility and The Property in Morehead
    • AppHarvest, Inc.
    • $125.00
    • Dry pasta business of Catelli Foods Corporation
    • Barilla America, Inc.
    • $123.95
    • US Based Chile Pepper Business of Mizkan America, Inc
    • Olam Americas, Inc.
    • $108.50

     

    Source S&P Capital IQ as of 4/12/2021 and PCE Proprietary Data

    Additional Resources

    eBook- Keys to Selling Your Packaged Food & Beverage Company

    Contacts

    eBook- Keys to Selling Your Agriculture Business

     

    Michael Poole

    Orlando Office

    407-621-2112

    David Jasmund

    Orlando Office

    407-621-2111

    David Jasmund

     

    David Jasmund

    Investment Banking | ESOP

    Orlando Office

    407-621-2111 (direct)

    djasmund@pcecompanies.com

    Connect
    407-621-2111 (direct)

    407-621-2199 (fax)

    Eric Zaleski

     

    Eric Zaleski

    Investment Banking | ESOP

    Chicago Office

    847-239-2466 (direct)

    ezaleski@pcecompanies.com

    Connect
    847-239-2466 (direct)

    407-621-2199 (fax)

    Melissa Ritter

     

    Melissa Ritter

    Investment Banking

    Orlando Office

    407-621-2128 (direct)

    mritter@pcecompanies.com

    Connect
    407-621-2128 (direct)

    407-621-2199 (fax)

    Michael Rosendahl

     

    Michael Rosendahl

    Investment Banking

    New York Office

    201-444-6280 Ext 1 (direct)

    mrosendahl@pcecompanies.com

    Connect
    201-444-6280 Ext 1 (direct)

    407-621-2199 (fax)

    Will Stewart

     

    Will Stewart

    Investment Banking | ESOP

    Orlando Office

    407-621-2124 (direct)

    wstewart@pcecompanies.com

    Connect
    407-621-2124 (direct)

    407-621-2199 (fax)

    whitcomb-woody

     

    Woody Whitcomb

    Investment Banking

    Orlando Office

    407-621-2113 (direct)

    wwhitcomb@pcecompanies.com

    Connect
    407-621-2113 (direct)

    407-621-2199 (fax)

    poole_michael

     

    Michael Poole

    Investment Banking

    Orlando Office

    407-621-2112 (direct)

    mpoole@pcecompanies.com

    Connect
    407-621-2112 (direct)

    407-621-2199 (fax)

    vogt-paul

     

    Paul Vogt

    Valuation

    Atlanta Office

    678-641-4760 (direct)

    pvogt@pcecompanies.com

    Connect
    678-641-4760 (direct)

    407-621-2199 (fax)

    Mackenzie Moran

     

    Mackenzie Moran

    Investment Banking

    New York Office

    201-444-6280 Ext 3 (direct)

    mmoran@pcecompanies.com

    Connect
    201-444-6280 Ext 3 (direct)

    407-621-2199 (fax)

    Isabel Carta

     

    Isabel Carta

    Investment Banking

    Orlando Office

    407-621-2149 (direct)

    icarta@pcecompanies.com

    Connect
    407-621-2149 (direct)

    407-621-2199 (fax)

    Philipp Seubert

     

    Philipp Seubert

    Investment Banking

    New York Office

    201-444-6280 Ext 4 (direct)

    pseubert@pcecompanies.com

    Connect
    201-444-6280 Ext 4 (direct)

    407-621-2199 (fax)

    Pearl-Rachel 667 x 667

     

    Rachel Pearl

    Valuation

    Orlando Office

    407-621-2140 (direct)

    rpearl@pcecompanies.com

    Connect
    407-621-2140 (direct)

    407-621-2199 (fax)

    R Winston 667 x 667

     

    Richard Winston

    Valuation

    Atlanta Office

    404-994-4650 (direct)

    rwinston@pcecompanies.com

    Connect
    404-994-4650 (direct)

    407-621-2199 (fax)

    Thomas Harrington

     

    Thomas Harrington

    Investment Banking

    Orlando Office

    407-621-2145 (direct)

    tharrington@pcecompanies.com

    Connect
    407-621-2145 (direct)

    407-621-2199 (fax)

    Data Assumptions

    This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.

    Glossary

    EBIT - Earnings Before Interest and Taxes
    EBITDA - Earnings Before Interest, Taxes, Depreciation, Amortization
    LTM - Last Twelve Months
    TEV - Total Enterprise Value

    Sources:

    1. Newman, Jesse. “For U.S. Farmers, China Is Back and Bigger Than Ever.” The Wall Street Journal, Dow Jones & Company, 10 Mar. 2021.
    2. Bunge, Jacob. “ADM to Pay $45 Million to Settle Peanut Farmers' Price-Fixing Claims.” The Wall Street Journal, Dow Jones & Company, 12 Mar. 2021.
    3. Kang, Jaewon. “Supermarkets Are Pressured to Raise Hazard Pay.” The Wall Street Journal, Dow Jones & Company, 24 Feb. 2021.
    4. “Nestlé agrees on sale of Nestlé Waters North America Brands” Nestlé Global, 17 Feb. 2021.
    5. Chaudhuri, Saabira. “Covid-19 Lockdowns Spur Shift to High-End Liquor.” The Wall Street Journal, Dow Jones & Company, 31 Jan. 2021.
    6. Bunge, Jacob, and Jennifer Maloney. “PepsiCo, Beyond Meat Form Plant-Based Foods Venture.” The Wall Street Journal, Dow Jones & Company, 26 Jan. 2021.
    7. Bunge, Jacob. “Dead Chickens, Frozen Oranges Confront Farmers in South After Severe Cold.” The Wall Street Journal, Dow Jones & Company, 25 Feb. 2021.

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