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    Food & Agriculture Q4 2020

    Q4 2020 Food Agriculture

    M&A Transaction Trends

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • The Cholula Food Company Inc.
    • McCormick & Company, Incorporated
    • $800.00
    • FONA International, Inc.
    • McCormick & Company, Incorporated
    • $710.00
    • Crisco® Oils and Shortening Business of The J. M. Smucker Company
    • B&G Foods North America, Inc.; B&G Foods Canada, ULC
    • $550.00
    • Truco Enterprises, LP
    • Heron Holding Corporation
    • $480.00
    • The Organic Corporation B.V./Tradin Organics USA LLC
    • Amsterdam Commodities N.V.
    • $389.79
    • SweetWater Brewing Company, Inc.
    • Aphria Inc.
    • $366.00
    • Beverages & More, Inc.
    • GoBrands, Inc.
    • $350.00
    • Paul Masson Grande Amber Brandy Brand of Constellation Brands, Inc.
    • Sazerac Company, Inc.
    • $255.00
    • Certain Assets of its Dry Pasta and Noodles Business in USA
    • American Italian Pasta Company
    • $242.50
    • Silva International, Inc.
    • Universal Corporation
    • $170.00

     

    Source S&P Capital IQ as of 1/12/2021 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. "Agriculture Industry Bets on Carbon as a New Cash Crop," Jacob Bunge, WSJ, Dec. 23, 2020.
    2. "Biden Pick for USDA Throws Tom Vilsack Back into Food-Policy Fight," Jesse Newman, Jacob Bunge, WSJ, Dec. 11, 2020.
    3. "U.S. Says Canada Shields Its Dairy Market in Violation of Trade Pact," Yuka Hayashi, The Wall Street Journal, Dec. 9, 2020.
    4. "Weather-Upending La Niña Is Headache for Farmers World-Wide," Lucy Cramer, The Wall Street Journal, Dec. 4, 2020.
    5. "A Huge Rally in Food Prices Is Stoking Record Fertilizer Demand," Marcy Nicholson, Justina Vasquez, Bloomberg, Dec. 9, 2020.
    6. "Kroger Reports Strong, But Slowing, Sales Growth," Jaewon Kang, The Wall Street Journal, Dec. 3, 2020.
    7. "McCormick buys hot sauce maker Cholula for $800M,"Christopher Doering, FoodDive, Nov. 24, 2020.
    8. "New U.S. Dietary Guidelines Reject Recommendation to Cut Sugar, Alcohol Intake Limit," Andrea Petersen, The Wall Street Journal, Dec. 29, 2020.

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