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.
211
Reviewed transactions
149
With price data
4.1x
Median EV or valuation / revenue
16.3x
Median EV or valuation / EBITDA
| Year | Transactions | Priced | Median EV or valuation / revenue | Median EV or valuation / EBITDA |
|---|---|---|---|---|
| 2026 | 10 | 9 | 4.0x | 9.9x |
| 2025 | 14 | 14 | 3.3x | 12.7x |
| 2024 | 12 | 11 | 3.6x | 16.0x |
| 2023 | 20 | 18 | 4.0x | 20.9x |
| 2022 | 20 | 10 | 4.9x | 20.4x |
| 2021 | 25 | 20 | 4.7x | 15.2x |
| 2020 | 15 | 10 | 4.2x | 14.7x |
| 2019 | 8 | 7 | 4.3x | 17.4x |
Sortable transaction comps
CPG transaction table
Rows with reported value
23 / 25
Acquisition EV, USD
USD 89B
Investment EV, USD
USD 11B
Median EV / revenue
4.0x
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25 shown of 87 matching transactions. Click any transaction row for more detail.
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 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Purely Elizabeth Control | 2026-08-14 | Ferrero Group | USD 850M Estimated Enterprise Value | 850 | 3.4x | - | United States | Confirmed 6 sources | ||
| Thorne Control | 2026-08-04 | Procter & Gamble | USD 3.8B Consideration | 3,800 | 7.6x | - | United States | Estimated 3 sources | ||
| Grüns Control (80%) | 2026-04-09 | Unilever | USD 1.2B Enterprise Value | 1,200 | 4.0x | - | United States | Estimated 3 sources | ||
| Kenvue Control (100%) | 2025-11-03 | Kimberly-Clark | USD 49B Enterprise Value | 48,700 | 3.2x | 14.3x | United States | Confirmed 4 sources | ||
| Dr. Squatch Control (99%) | 2025-06-23 | Unilever | USD 1.5B Enterprise Value | 1,500 | 3.8x | 16.7x | United States | Estimated 7 sources | ||
| rhode Control | 2025-05-28 | e.l.f. Beauty | USD 800M Closing Consideration | 800 | 3.8x | - | United States | Confirmed 3 sources | ||
| Touchland Control | 2025-05-12 | Church & Dwight | USD 700M Closing Consideration | 700 | 5.4x | 12.7x | United States | Confirmed 2 sources | ||
| LesserEvil Control | 2025-04-03 | The Hershey Company | USD 815M Total Consideration | 815 | 4.9x | - | United States | Confirmed 3 sources | ||
| poppi Control (100%) | 2025-03-17 | PepsiCo | USD 1.9B Enterprise Value | 1,950 | - | - | United States | Estimated 7 sources | ||
| Alani Nu Control | 2025-02-20 | Celsius Holdings | USD 1.6B Net Purchase Price | 1,650 | 2.8x | 12.0x | United States | Confirmed 3 sources | ||
| Sour Strips Control | 2024-11-08 | The Hershey Company | Undisclosed | Undisclosed | - | - | United States | Confirmed 3 sources | ||
| Vuori Minority | 2024-11-08 | General Atlantic and Stripes | USD 5.5B Enterprise Value | 5,500 | 5.5x | - | United States | Confirmed 6 sources | ||
| Supreme Control | 2024-07-17 | EssilorLuxottica S.A. | USD 1.5B Enterprise Value | 1,500 | 2.8x | - | United States | Confirmed 5 sources | ||
| 2024-03-12 | Campbell's | USD 2.9B Enterprise Value | 2,899 | - | - | United States | Confirmed 26 sources | |||
| Liquid Death Capital Raise | 2024-03-11 | Live Nation and other investors | USD 1.4B Enterprise Value | 1,400 | 4.2x | - | United States | Confirmed 4 sources | ||
| La Colombe Coffee Roasters Control | 2023-12-15 | Chobani | USD 900M Enterprise Value | 900 | - | - | United States | Confirmed 1 source | ||
| Hostess Brands, Inc. Control (100%) | 2023-09-11 | The J. M. Smucker Company | USD 5.6B Enterprise Value | 5,600 | 3.9x | 17.2x | United States | Confirmed 3 sources | ||
| Subway Control | 2023-08-24 | Roark Capital Group affiliates | USD 8.9B Enterprise Value | 8,950 | - | 12.0x | United States | Confirmed 9 sources | ||
| Sovos Brands, Inc. Control (100%) | 2023-08-07 | Campbell Soup Company | USD 2.7B Enterprise Value | 2,700 | 3.2x | 19.8x | United States | Confirmed 4 sources | ||
| 2023-07-31 | Monster Beverage Corporation | USD 362M Enterprise Value | 362 | - | - | United States | Confirmed 3 sources | |||
| SKIMS Capital Raise | 2023-07-19 | Wellington Management | USD 4.0B Enterprise Value | 4,000 | 5.3x | - | United States | Confirmed 6 sources | ||
| Hilma Control | 2022-11-17 | Biocodex | Undisclosed | Undisclosed | - | - | United States | Confirmed 1 source | ||
| TOM FORD brand and intellectual property Control (100%) | 2022-11-15 | The Estée Lauder Companies Inc. | USD 2.5B Enterprise Value | 2,550 | - | - | United States | Confirmed 9 sources | ||
| Skinbetter Science Control | 2022-09-23 | L’Oréal | USD 858M Enterprise Value | 858 | 8.2x | - | United States | Confirmed 1 source | ||
| Hero Cosmetics Control | 2022-09-06 | Church & Dwight | USD 630M Consideration | 630 | 5.5x | 14.0x | United States | Estimated 3 sources |
FundComb transaction comps are informational only. Prices are shown as estimated enterprise value where available, with USD used as the default sorting currency; revenue and EBITDA multiples are shown where available. Values may be estimated, rumored, incomplete or derived from public information and should not be relied upon as financial, investment or valuation advice.