Investment and M&A transaction comps
CPG Investment & M&A Transaction Comps
Global CPG and consumer brand investments, capital raises and M&A transactions, including food, beverage, beauty, personal care, supplements and adjacent branded consumer categories.
| Year | Transactions | Priced | Median EV or valuation / revenue | Median EV or valuation / EBITDA |
|---|---|---|---|---|
| 2026 | 50 | 22 | 4.0x | 9.9x |
| 2025 | 28 | 26 | 3.3x | 12.9x |
| 2024 | 24 | 23 | 3.1x | 15.0x |
| 2023 | 31 | 27 | 3.9x | 20.4x |
| 2022 | 26 | 17 | 3.6x | 20.4x |
| 2021 | 45 | 37 | 4.4x | 15.0x |
| 2020 | 30 | 25 | 4.3x | 14.7x |
| 2019 | 16 | 15 | 3.6x | 17.4x |
Sortable transaction comps
CPG transaction table
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Acquisition EV, USD
USD 6.0B
Investment EV, USD
-
Median EV / revenue
9.6x
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Values are 100% enterprise values. Multiples divide EV by full-company revenue or EBITDA. Reported prices are assumed to be EV; explicit partial-stake prices are grossed up as estimates. Amounts paid are tracked separately.
| Select for comparison | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| GSK Consumer Healthcare India (Horlicks) Control (100%) | 2018-12-03 | Hindustan Unilever and Unilever | EUR 5.3B Consideration | 5,999 | 9.6x | - | India, Bangladesh & Asian Markets | Confirmed 1 source |