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
18 / 25
Acquisition EV, USD
USD 44B
Investment EV, USD
USD 10B
Median EV / revenue
4.2x
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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 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Tata Harper Control | 2022-09-01 | Amorepacific | EUR 125M Enterprise Value | 125 | 2.8x | 24.5x | United States | Confirmed 1 source | ||
| Celsius Holdings, Inc. Minority (9%) | 2022-08-01 | PepsiCo, Inc. | USD 6.5B Enterprise Value | 6,471 | 9.9x | - | United States | Estimated 4 sources | ||
| Clif Bar & Company Control (100%) | 2022-06-20 | Mondelēz International | USD 2.9B Enterprise Value | 2,900 | 3.6x | 24.2x | United States | Confirmed 11 sources | ||
| Biohaven Pharmaceutical Control | 2022-05-10 | Pfizer | USD 12B Consideration | 11,600 | - | 13.5x | United States | Confirmed 1 source | ||
| Main Event Entertainment Control (100%) | 2022-04-06 | Dave & Buster’s Entertainment, Inc. | USD 835M Enterprise Value | 835 | 2.2x | 9.0x | United States | Confirmed 4 sources | ||
| Orgain Control | 2022-02-02 | Nestlé Health Science | Undisclosed | Undisclosed | 1.5x | 22.0x | United States | Confirmed 1 source | ||
| Tula Control | 2022-01-04 | P&G | Undisclosed Undisclosed | Undisclosed | 6.7x | - | United States | Estimated 1 source | ||
| Supergoop Control | 2021-12-20 | Blackstone | EUR 618M Enterprise Value | 697 | 5.8x | - | United States | Confirmed 1 source | ||
| Del Taco Restaurants, Inc. Control (100%) | 2021-12-06 | Jack in the Box Inc. | USD 575M Enterprise Value | 575 | 1.1x | 11.0x | United States | Confirmed 11 sources | ||
| TheraBreath Control | 2021-11-29 | Church & Dwight | USD 580M Consideration | 580 | 5.0x | 13.8x | United States | Estimated 2 sources | ||
| ALASTIN Skincare Control | 2021-11-29 | Galderma | Undisclosed Undisclosed | Undisclosed | - | 8.6x | United States | Estimated 1 source | ||
| 2021-11-15 | Restaurant Brands International Inc. | USD 1.0B Enterprise Value | 1,000 | - | 20.0x | United States | Confirmed 4 sources | |||
| Sol de Janeiro Control (83%) | 2021-11-15 | L'Occitane | USD 450M Estimated Enterprise Value | 450 | 7.5x | 20.7x | United States | Estimated 5 sources | ||
| 2021-11-10 | The Hershey Company | USD 1.2B Enterprise Value | 1,200 | 4.4x | - | United States | Confirmed 3 sources | |||
| Vuori Capital Raise | 2021-10-13 | SoftBank Vision Fund 2 | USD 4.0B Enterprise Value | 4,000 | - | - | United States | Confirmed 3 sources | ||
| Flexion Therapeutics Control | 2021-10-11 | Pacira BioSciences | Undisclosed | Undisclosed | - | 11.0x | United States | Confirmed 1 source | ||
| Uqora Control | 2021-07-08 | Pharmavite | Undisclosed | Undisclosed | - | - | United States | Confirmed 1 source | ||
| Microbiome Labs Control | 2021-01-06 | Novozymes | USD 125M Consideration | 125 | 3.1x | 6.0x | United States | Confirmed 1 source | ||
| Hu Master Holdings (Hu Products) Control (100%) | 2021-01-05 | Mondelēz International | Undisclosed Enterprise Value | Undisclosed | - | - | United States | Confirmed 1 source | ||
| Every Man Jack Control | 2020-12-01 | The Carlyle Group | Undisclosed Undisclosed | Undisclosed | - | - | United States | Confirmed 1 source | ||
| Zicam Control | 2020-12-01 | Church & Dwight | USD 530M Consideration | 530 | 5.9x | 14.7x | United States | Confirmed 1 source | ||
| KIND North America Control | 2020-11-17 | Mars, Incorporated | USD 5.0B Enterprise Value | 5,000 | - | - | United States | Estimated 2 sources | ||
| Supreme Holdings, Inc. Control (100%) | 2020-11-09 | VF Corporation | USD 2.1B Enterprise Value | 2,100 | 4.2x | - | United States | Confirmed 4 sources | ||
| Care/of Control | 2020-08-31 | Bayer | USD 225M | 225 | - | - | United States | Confirmed 1 source | ||
| Tiffany & Co. Control (100%) | 2019-11-25 | LVMH Moët Hennessy Louis Vuitton SE | USD 16B Enterprise Value | 16,200 | 3.6x | 16.8x | United States | Confirmed 8 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.