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Target Acquiror Acquisition SynopsisGift & Home Décor
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Walmart announced plans to acquire online art and wall décor retailer Art.com The all-cash deal, expected to close in early 2019, boosts Walmart's home décor business and contines a 2-year e-commerce acquisition stretch that has included BareNecesssities, Eloquii, ShoeBuy, Moosejaw, Bonobos and Modcloth
Food & Beverage
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Conagra Brands announced a definitive agreement to divest Wesson, the #1 canola and vegetable oil brand in the U.S. to Richardson International, Canada's largest agribusiness, with a focus on agricultural supply, canola oil processing and oat millingThis follows Wesson's failed 2017 attempted sale to J.M. Smucker for $285 million that was blocked by the FTC based on anti-trust concerns
Apparel & Accessories
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Farfetch (NYSE:FTCH), a London-based fashion e-commerce platform, has acquired Stadium Goods, a consignment reseller of rare and limited edition sneakers, apparel and other luxury itemsStadium Goods will continue to operate independently while tapping into Farfetch's logistics and delivery capabilities; their full inventory will become available to Farfetch users
Recreational Products
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Marquee Brands, a brand acquisition, licensing and development company, has acquired the Dakine outdoor sports and lifestyle brandIn conjunction with the acquisition, Marquee Brands entered into a long-term license agreement with JR286, the acquiror of the operating assets of Dakine, which will become Marquee Brands' long term operating partner
Personal Care▪
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Tivity Health, Inc. (Nasdaq: TVTY), a leading provider of fitness and health improvement programs, entered a definitive agreement to acquire Nutrisystem (Nasdaq: NTRI), for an implied Enterprise Value of $1.3 billion, representing an LTM EBITDA multiple of 15.2x and an LTM Revenue multiple of 1.9xThe combined company will offer an integrated portfolio of fitness, nutrition and social engagement solutions to support overall health and wellness
Home, Garden & Pet▪
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Hyper Pet LLC announced the acquisition of OurPet's Company (OTCPK:OPCO), a developer of pet accessories and consumables, for an implied Enterprise Value of $22.3 million, representing an LTM EBITDA multiple of 10.6x and an LTM Revenue multipe of 0.8xHyper Pet expects to leverage OurPet's strengths in the cat category to expand its offerings to all pet owners
Enterprise Value / LTM EBITDA
Enterprise Value / LTM EBITDA
LTM Revenue Growth
Enterprise Value / LTM Revenue
Consumer Headline Transactions
6.1%
4.6%
5.9%
3.2%
5.9%
4.5%
0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%8.0%9.0%
10.0%11.0%12.0%
Gift & HomeDécor
Food & Beverage Apparel &Accessories
RecreationalProducts
Personal Care Home, Garden &Pet
LTM
Rev
enue
Gro
wth
Note: EBITDA Margins in green
36.7% 39.2%
48.0%
35.3%
56.6%
35.9%
8.4%
18.3%12.3% 11.0%
17.3% 15.9%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
Gift & HomeDécor
Food &Beverage
Apparel &Accessories
RecreationalProducts
Personal Care Home, Garden& Pet
LTM EBITDA M
arginLTM
Gro
ss M
argin
0.6x
2.3x
1.2x 1.1x
2.5x
1.9x
0.0
1.0x
2.0x
3.0x
4.0x
Gift & HomeDécor
Food & Beverage Apparel &Accessories
RecreationalProducts
Personal Care Home, Garden &Pet
EV /
LTM
Rev
enue
7.1x
13.8x
8.7x 8.8x
12.9x 11.6x
0.0
5.0x
10.0x
15.0x
20.0x
Gift & HomeDécor
Food & Beverage Apparel &Accessories
RecreationalProducts
Personal Care Home, Garden &Pet
EV /
LTM
EBI
TDA
Consumer & Retail Monthly January 2019
Target Acquiror Acquisition SynopsisGift & Home Décor
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DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
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Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
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▪
Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
▪
▪
Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
▪
Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
▪
Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Target Acquiror Acquisition SynopsisGift & Home Décor
▪
▪
DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
▪
▪
Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
▪
▪
Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
▪
▪
Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
▪
Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
▪
Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Target Acquiror Acquisition SynopsisGift & Home Décor
▪
▪
DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
▪
▪
Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
▪
▪
Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
▪
▪
Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
▪
Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
▪
Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Target Acquiror Acquisition SynopsisGift & Home Décor
▪
▪
DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
▪
▪
Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
▪
▪
Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
▪
▪
Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
▪
Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
▪
Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Target Acquiror Acquisition SynopsisGift & Home Décor
▪
▪
DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
▪
▪
Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
▪
▪
Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
▪
▪
Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
▪
Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
▪
Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Target Acquiror Acquisition SynopsisGift & Home Décor
▪
▪
DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
▪
▪
Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
▪
▪
Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
▪
▪
Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
▪
Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
▪
Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Target Acquiror Acquisition SynopsisGift & Home Décor
▪
▪
DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
▪
▪
Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
▪
▪
Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
▪
▪
Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
▪
Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
▪
Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Target Acquiror Acquisition SynopsisGift & Home Décor
▪
▪
DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
▪
▪
Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
▪
▪
Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
▪
▪
Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
▪
Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
▪
Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Target Acquiror Acquisition SynopsisGift & Home Décor
▪
▪
DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
▪
▪
Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
▪
▪
Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
▪
▪
Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
▪
Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
▪
Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Target Acquiror Acquisition SynopsisGift & Home Décor
▪
▪
DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
▪
▪
Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
▪
▪
Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
▪
▪
Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
▪
Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
▪
Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Target Acquiror Acquisition SynopsisGift & Home Décor
▪
▪
DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
▪
▪
Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
▪
▪
Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
▪
▪
Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
▪
Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
▪
Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Target Acquiror Acquisition SynopsisGift & Home Décor
▪
▪
DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
▪
▪
Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
▪
▪
Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
▪
▪
Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
▪
Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
▪
Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Target Acquiror Acquisition SynopsisGift & Home Décor
▪
▪
DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
▪
▪
Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
▪
▪
Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
▪
▪
Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
▪
Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
▪
Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Target Acquiror Acquisition SynopsisGift & Home Décor
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DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
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Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
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Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
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Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
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Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
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Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Target Acquiror Acquisition SynopsisGift & Home Décor
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DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
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Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
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Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
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Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
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Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
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Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Target Acquiror Acquisition SynopsisGift & Home Décor
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DreamCloud Holdings, the fastest growing player in the online mattress industry, announced an agreement to acquire science-based bedding product company, Level Sleep LLC. TM Capital previously served as financial advisor to DreamCloud Holdings (d/b/a Nectar Sleep) in completing a growth equity and strategic partnership transaction
Food & Beverage
US Baking Business of The J.M. Smucker Company
▪
▪
Brynwood Partners acquired the U.S. Baking Business of The J.M. Smucker Company (NYSE: SJM) for $375 million, representing a revenue multiple of 1.0x Brands acquired include Pillsbury® baking mix as well as other center aisle labels such as Hungry Jack® pancake mix, White Lily® and Martha White® baking products, and Jim Dandy® quick grits
Apparel & Accessories
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Delta Galil Industries Ltd., a manufacturer and marketer of private label apparel products, acquired Eminence SAS and its subsidiaries for $148 millionAcquired brands include Eminence, the second largest men's underwear brand in France, ATHENA, a French women's underwear brand, and Liabel, an Italian mass-market underwear and t-shirt brand
Recreational Products
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▪
Groupe Bénéteau, an international designer and manufacturer of boats and mobile homes, has purchased a 60% stake in the Slovenian performance sailing yacht company Seascape d.o.oThis transaction will extend Bénéteau into the small sailing yacht category, targeting novice sailers and younger enthusiasts with affordable, transportable cruisers
Personal Care▪
▪
Johnson & Johnson has entered an agreement to acquire Zarbee's Inc., a leader in naturally-based healthcare products The acquisition will include the full line of Zarbee's Naturals products for children and adults and is anticipated to help Johnson & Johnson bolster sales in their consumer-health division with an on-trend clean-label offering
Home, Garden & Pet▪
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Outward Hound, a designer and developer of pet toys owned by JW Childs, acquired Wholesome Pride Pet Treats, a producer of 100% all natural pet treats founded in 2013Wholesome Pride will become a new treat division within Outward Hound's pet products platform
Selected TM Capital Consumer Experience TM Capital’s Consumer Industry Contacts
Home, Garden & Pet
Recreational Products
Food & Beverage
Personal Care
Apparel & Accessories
Gift & Home Decor
LTM Stock Price Index
70%
80%
90%
100%
110%
120%
130%
Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18
Sha
re P
rice
Inde
x
Food & Beverage87%
Gift & Home Décor73%
Personal care96%
S&P 500104%
Recreational Products
Home, Garden and Pet
77%
77%
Apparel & Accessories96%
David M. Felts
Managing Director dfelts@tmcapital.com
404-995-6252
Craig M. Gibson
Managing Director cgibson@tmcapital.com
617-259-2204
James S. Grien
Managing Director jgrien@tmcapital.com
404-995-6235
Target Acquiror Transaction DescriptionFeelway Co., Ltd. Cafe24 Corp. Feelway Co., an online retailer of apparel for men and women, has
been acquired by Cafe24 Corp., a Korean operator of e-commerce platforms and e-business services such as hosting and site design for $75 million
One Click Internet Ventures, LLC
FGX International Inc. One Click Ventures, an online retailer of prescription and nonprescription glasses, has been acquired by FGX International, a designer of nonprescription sunglasses, optical frames and reading glasses
Target Acquiror Transaction DescriptionPetrolheads Ltd. CarGurus, Inc.
(NasdaqGS:CARG)CarGurus announced an agreement to acquire Petrolheads Ltd., a luxury car online marketplace and community, making CarGurus the largest online automotive marketplace by monthly unique visitors
Ledlenser GmbH Afinum Management GmbH; Invision Private Equity AG
Ledlenser, a German-based LED outdoor and head light manufacturer, has been divested from Leatherman Tool Group to private equity groups Afinum Management (Majority) and Invision Private Equity (Minority)
Target Acquiror Transaction DescriptionWalker and Company
The Procter & Gamble Company (NYSE:PG)
Procter & Gamble has agreed to acquire Walker & Company, a direct-to-consumer marketer of Bevel shaving and FORM Beauty products for people of color coily and curly hair
Deborah Group S.p.a
Sodalis Group Srl Sodalis Group, an Italian manufacturer of personal care products, agreed to acquire Deborah Group, the 106 year-old Italian manfuacturer of cosmetics and makeup products
Target Acquiror Transaction DescriptionTarget Acquiror Transaction DescriptionMacs and Buddy Pet Products LLC
For the Earth Corp. (OTCPK:FTEG)
For the Earth, retailer of "Green" and biodegradable healthy living products, has entered the pet industry with the acquisition of Macs and Buddy, a producer and retailer of pet food products
Targeted Pet Treats Pestell Pet Products Pestell Pet Products, a portfolio company of Wind Point Partners, has entered the growing dental treat market through its acquisition of Targeted Pet Treats, a manufacturer of dental treats and long-lasting chews for pets
Target Acquiror Transaction DescriptionGood Food Holdings, LLC
Emart Inc. (KOSE:A139480)
Good Food Holdings, operator of upscale grocery chains incl. Bristol Farms and Lazy Acres Market, has been acquired by South Korean retail giant Emart for $275 million as a precursor to the opening of its first U.S. outpost of upmarket grocery store concept PK Market in Los Angeles
Morinda Holdings, Inc.
New Age Beverages Corporation (NasdaqCM:NBEV)
New Age Beverages Corporation, a Colorado-based organic beverage company has acquired Morinda Holdings, Inc., a Utah-based healthy beverages and lifestyles company for $100 million (0.4x LTM Revenue, 5.0x LTM EBITDA)
Selected Consumer Transactions
Target Acquiror Transaction DescriptionTualatin Sleep Products, Inc.
Southerland, Inc. Southerland, a Nashville-based bedding manufacturer, has acquired Oregon-based Tualatin Sleep Products to expand its presence in the northwestern U.S.; both independent mattress companies are licensees of Englander sleep products
Posh Baby and Teen Bambi Baby Bambi Baby, a family owned and operated children's furniture store, acquired competitor Posh Baby and Teen, enabling the company to improve its online presence while increasing inventory capacity and delivery fleet size
Philip S. Krieger
Managing Director pkrieger@tmcapital.com
404-995-6242
Kevin Atchue
Vice President katchue@tmcapital.com
617-259-2209
tmcapital.com
ATLANTA BOSTON NEW YORK
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