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    Food & Agriculture Q3 2021

    Q3 2021 Food Agriculture

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Core-Mark Holding Company, Inc.
    • Performance Food Group Company
    • $2,737.53
    • Tyson Pet Products, Inc.
    • General Mills, Inc.
    • $1,200.00
    • U.S. motorways business of HMSHost Corporation
    • Applegreen plc; B&J Holdings Limited
    • $375.00
    • JM Swank, LLC
    • Brenntag SE
    • $304.00
    • 35 grain elevators of Bunge North America, Inc.
    • Zen-Noh Grain Corporation
    • $300.00
    • Agri-Kind, LLC\Agronomed Holdings Inc.
    • Verano Holdings Corp.
    • $147.00
    • Carolina Aseptic / Carolina Dairy
    • Saputo Inc.
    • $118.00
    • McLovin's Pet Food, Inc.
    • Caduceus Software Systems Corp.
    • $68.00
    • Anna Holdings LLC
    • Trulieve Cannabis Corp.
    • $62.78
    • Organic Blueberry Orchards in Oregon & California
    • Gladstone Land Corporation
    • $42.30

    Other Financial Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Whitson’s Food Service Corp.
    • GenNx360 Capital Partners
    • n/a
    • Chosen Foods, LLC
    • Butterfly Equity LP
    • n/a
    • Fast Growing Trees, LLC
    • Berkshire Partners LLC; Cove Hill Partners, L.P.
    • n/a
    • Odwalla, Inc.
    • Full Sail IP Partners LLC
    • n/a

    Other Strategic Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • MeliBio, Inc.
    • Cult Food Science Corp.
    • n/a
    • Bartolotta LLC
    • GrubMarket, Inc.
    • n/a
    • 32 Stores of Save-A-Lot Food Stores, Ltd.
    • Yellow Banana, LLC
    • n/a
    • Grant J. Hunt Company
    • GrubMarket, Inc.
    • n/a
    • Certain Cigar Assets of Unitabac, LLC
    • Turning Point Brands, Inc.
    • n/a
    • Michigan Fresh Marketing LLC
    • BelleHarvest Sales Inc.
    • n/a
    • Dole Food Company, Inc.
    • Dole plc
    • n/a
    • HOP WTR Inc.
    • Constellation Brands, Inc.
    • n/a
    • Meat Processors, Inc.
    • Fortune Fish Company Inc.
    • n/a
    • Franklin Bakery, LLC
    • The Good Bread Co.
    • n/a
    • LC Wine, Inc.
    • JUSTIN Vineyards & Winery, Inc.; JUSTIN Vineyards & Winery LLC; JNSQ Wines
    • n/a

     

    Source S&P Capital IQ as of 10/11/2021 and PCE Proprietary Data

    PCE Transactions

    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

    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. Wallace, Joe. “Sugar Prices Soar after Brazil Cold Snap.” The Wall Street Journal, Dow Jones & Company, 3 Sept. 2021.
    2. Maltais, Kirk. “U.S. Crops Wither under Scorching Heat.” The Wall Street Journal, Dow Jones & Company, 24 Aug. 2021.
    3. Devenyns, Jessi. “Nestlé Investing $1.29B to Support Regenerative Agriculture.” Food Dive, 16 Sept. 2021.
    4. Puko, Timothy, and Andrew Restuccia. “Biden Says U.S. Working with E.U. on Pledge to Cut Global Methane Emissions.” The Wall Street Journal, Dow Jones & Company, 18 Sept. 2021.
    5. Calfas, Jennifer. “At Sequoia National Park, Giant Trees Wrapped in Foil as Nearby Wildfires Grow.” The Wall Street Journal, Dow Jones & Company, 17 Sept. 2021.
    6. Articles\In Food Delivery, Iron Fists Could Trump the Invisible Hand - WSJ.pdf.
    7. Haddon, Heather. “Restaurants Close Dining Rooms Again as Delta-Driven Infections Spread.” The Wall Street Journal, Dow Jones & Company, 12 Sept. 2021.
    8. Maltais, Kirk. “Cotton Prices Surge to Highest Level in a Decade.” The Wall Street Journal, Dow Jones & Company, 5 Oct. 2021.
    9. Patterson, Scott. “The Colorado River Is in Crisis. the Walton Family Is Pushing a Solution.” The Wall Street Journal, Dow Jones & Company, 2 Oct. 2021

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