Bai Brands LLC acquired by Dr Pepper Snapple Group, Inc.
Dr Pepper Snapple Group, Inc. acquired Bai Brands LLC, a US beverages brand, on Nov 22, 2016.
Transaction summary
- Target
- Bai Brands LLC
- Acquirer
- Dr Pepper Snapple Group, Inc.
- Seller
- -
- Announced
- 2016-11-22
- Geography
- United States
- Tags
- BeveragesConsumerFood & Beverage
- Type
- Acquisition
- Deal type
- Control
- Stake acquired
- 97%
- First added
- 2026-10-04
- Latest update
- 2026-10-04
Value and multiples
100% enterprise value
USD 1.7B
100% enterprise value | USD
Basis: Derived from source data
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
EV / revenue
4.11x
Period: varies by source
Basis: Derived from source data
EV / EBITDA
-
EBITDA basis not stated
Basis: FundComb estimate
Amounts paid and other reported values
Original reported amounts and bases; a stake payment is distinct from the estimated whole-company valuation.
Consideration: USD 1.7B
Announced USD1.7bn cash for remaining97.37%; later preliminary purchase price USD1.636bn net of prior interest, separate accounting basis.
Basis
- USD 1.7bn enterprise value is treated as publicly disclosed or derived directly from public source data.
- Valuation covers 100% of the target; the amount invested or paid for a stake is separate.
- Implied EV / revenue is 4.11x, calculated from USD 1.7bn value and USD 425m revenue.
- Revenue and multiple inputs are not fully disclosed in public transaction materials reviewed; treat the multiple as an estimate.
- DPS announced USD1.7bn cash for remaining Bai interests. The2017 Form10-K discloses prior2.63% ownership, so acquired fraction is97.37%. Proportional100% EV under FCR-211 = USD1.7bn /0.9737 = approximately USD1.746bn, derived. Original consideration remains USD1.7bn. Earlier USD15m investment is not added to this price. The later preliminary purchase price was USD1.636bn net of previous interest, a different accounting measure. Expected2017 net sales approximately USD425m imply approximately4.11x using the estimated100% EV; forecast denominator. EBITDA unknown. USD1.7bn /0.9737 = approximately USD1.746bn whole-company EV; / USD425m forecast2017 sales = approximately4.11x. Approximately USD425m forecast2017 net sales; derived EV/revenue approximately4.11x using proportional100% EV.
Source summary
Dr Pepper Snapple Group to Acquire Bai Brands, LLC
ConfirmedThe cash purchase price of $1.7 billion includes a tax benefit of approximately $400 million
Open sourceDr Pepper Snapple Group to Acquire Bai Brands, LLC
ConfirmedIt is expected to generate approximately $425 million in net sales in 2017
Open sourceDr Pepper Snapple Group Form 8-K, November 2016
ConfirmedBai surviving as a wholly-owned indirect subsidiary of the Company
Open sourceDr Pepper Snapple Group Form 8-K, Completion of Bai Acquisition
Confirmedcompleted its previously announced acquisition of Bai Brands LLC
Open sourceDr Pepper Snapple Group 2016 Form 10-K
Confirmedwe agreed to acquire the remaining equity interests in Bai Brands for an aggregate purchase price of $1.7 billion
Open sourceDPS2017 Form10-K Bai acquisition note
Confirmedour existing 2.63% equity interest in Bai Brands was remeasured
Open source