Investment & M&A transaction comps
Beverages Investment & M&A Transaction Comps
Explore investment and M&A transactions tagged beverages. Compare companies, buyers, dates and available valuation multiples, with reported, estimated or rumored figures clearly labelled in each comp.
Coverage includes published FundComb transactions carrying this tag. Each comp preserves its own source notes and valuation basis.
- Reviewed transactions
- 50
- With value data
- 34
- With revenue multiples
- 17
- Transaction years
- 2000–2026
Sortable transaction comps
Beverages transaction table
Rows with reported value
19 / 25
Acquisition EV, USD
USD 115B
Investment EV, USD
-
Median EV / revenue
3.2x
Selected comparison set
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Choose transactions from the table to build a quick comparison set.
25 shown of 50 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, and a financing without a reported valuation shows its amount raised, not an EV.
| Select for comparison | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Orgain Control | 2022-02-02 | Nestlé Health Science | USD 2.0B Estimated Enterprise Value | 2,000 | 1.5x | 22.0x | United States | Confirmed 1 source | ||
| ekaterra (Lipton, PG Tips) Control (100%) | 2021-11-18 | CVC Capital Partners | EUR 4.5B Enterprise Value | 5,150 | 2.3x | - | Global (Headquartered in Netherlands/UK) | Confirmed 1 source | ||
| BODYARMOR Control (85%) | 2021-11-01 | The Coca-Cola Company | USD 6.6B Enterprise Value | 6,588 | - | - | United States | Confirmed 2 sources | ||
| Tropicana Brands Group (Tropicana, Naked) Control (61%) | 2021-08-03 | PAI Partners | Undisclosed | Undisclosed | - | - | North America & Europe | Estimated 1 source | ||
| FONA International, Inc. Control (100%) | 2020-12-30 | McCormick & Company | USD 710M Consideration | 710 | 6.2x | - | United States | Confirmed 1 source | ||
| Dunkin’ Brands Group, Inc. Control (100%) | 2020-10-30 | Inspire Brands, Inc. | USD 11B Enterprise Value | 11,300 | 8.3x | 25.3x | United States | Confirmed 12 sources | ||
| Liquid I.V. Control | 2020-09 | Unilever | Undisclosed | Undisclosed | - | - | - | Confirmed 2 sources | ||
| GlaxoSmithKline Bangladesh Limited Control (82%) | 2020-06-30 | Unilever PLC | Undisclosed | Undisclosed | - | - | Bangladesh | Confirmed 5 sources | ||
| Rockstar Energy Beverages Control (100%) | 2020-03-11 | PepsiCo | USD 3.9B Consideration | 3,850 | - | - | United States & Global | Confirmed 1 source | ||
| fairlife, LLC Control | 2020-01-03 | The Coca-Cola Company | USD 1.7B Estimated Enterprise Value | 1,703 | - | - | United States | Confirmed 11 sources | ||
| Orgain Control | 2019-11-11 | Butterfly Equity | Undisclosed Undisclosed | Undisclosed | 2.8x | 26.3x | United States | Confirmed 1 source | ||
| Pioneer Foods Group Ltd. Control (100%) | 2019-07-19 | PepsiCo | USD 1.7B Consideration | 1,700 | - | 11.0x | South Africa & Sub-Saharan Africa | Confirmed 1 source | ||
| Core Nutrition LLC Control (94%) | 2018-09-27 | Keurig Dr Pepper | USD 525M Enterprise Value | 525 | - | - | United States | Estimated 1 source | ||
| Costa Coffee Control (100%) | 2018-08-31 | The Coca-Cola Company | GBP 3.9B Enterprise Value | 5,063 | 3.0x | 16.4x | United Kingdom & Global | Confirmed 1 source | ||
| SodaStream International Ltd. Control (100%) | 2018-08-20 | PepsiCo | USD 3.2B Consideration | 3,200 | - | 20.4x | Israel / Global | Confirmed 1 source | ||
| 2018-05-07 | Nestlé S.A. | USD 7.2B Consideration | 7,150 | 3.6x | - | Global | Confirmed 1 source | |||
| Dr Pepper Snapple Group, Inc. Control | 2018-01-29 | Keurig Green Mountain, Inc. | USD 27B Enterprise Value | 26,600 | - | - | United States | Confirmed 10 sources | ||
| Bai Brands LLC Control (97%) | 2016-11-22 | Dr Pepper Snapple Group, Inc. | USD 1.7B Enterprise Value | 1,746 | 4.1x | - | United States | Confirmed 6 sources | ||
| The WhiteWave Foods Company Control (100%) | 2016-07-07 | Danone S.A. | USD 13B Enterprise Value | 12,500 | 3.2x | 29.6x | United States & Europe | Confirmed 1 source | ||
| Keurig Green Mountain, Inc. Control (100%) | 2015-12-07 | Acorn Holdings B.V. (JAB-led investor group) | USD 14B Enterprise Value | 14,300 | 3.2x | 12.9x | United States | Confirmed 5 sources | ||
| Ballast Point Brewing & Spirits Control (100%) | 2015-11-16 | Constellation Brands, Inc. | USD 1.0B Consideration | 1,000 | 8.7x | 16.5x | United States | Estimated 1 source | ||
| Tim Hortons Control (100%) | 2014-08-26 | Burger King Worldwide (3G Capital) | CAD 13B Consideration | 11,400 | 3.8x | 20.1x | Canada & United States | Confirmed 1 source | ||
| Wimm-Bill-Dann Foods OJSC Control | 2010-12-02 | PepsiCo, Inc. | USD 5.8B Enterprise Value | 5,800 | 2.2x | 16.8x | - | Confirmed 6 sources | ||
| The Quaker Oats Company Control | 2000-12-04 | PepsiCo, Inc. | Undisclosed | Undisclosed | - | - | - | Confirmed 21 sources | ||
| CHI Control | - | The Coca-Cola Company | Undisclosed | Undisclosed | - | - | - | Confirmed 10 sources |
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Source coverage varies by transaction. Announced deals, minority investments and capital raises retain their own labels; an investment amount is separate from enterprise value. Read the methodology.