consumer monthly march 2017 - tmcapital.com · gambol pet group kkr & co. l.p. (nyse:kkr) kkr,...
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1.5%1.7%
(0.4%)
1.3% 1.4% 1.5%
(2.0%)
0.0%
2.0%
4.0%
Gift & HomeDécor
Food &Beverage
Apparel &Accessories
RecreationalProducts
Personal Care Home, Garden &Pet
LTM
Rev
enu
e G
row
th
Target Acquiror Acquisition Synopsis
Gift & Home Décor••
Monomoy Capital Partners, a private equity firm, acquired Klaussner Furniture IndustriesKlaussner Furniture Industries manufactures and distributes home furnishings, including upholstery, casegoods, bedding and outdoor furniture
Food & Beverage •
•
TM Capital advised Uncle Wally’s in its sale to Give & Go, a leading North American manufacturer of branded and private label baked goods and portfolio company of Thomas H. Lee PartnersUncle Wally’s is a leading producer of premium muffins marketed on a branded and private label basis to leading retailers in the grocery, club and superstore channels
Apparel & Accessories •
•
Carter's, Inc. (NYSE:CRI), a marketer of branded childrenswear, acquired Skip Hop, Inc. from Fireman Capital Partners for $150 millionSkip Hop manufactures and markets child care products for parents, babies and toddlers
Recreational Products •
•Rossignol Group, a French provider of snowsports equipment, agreed to acquire Felt BicyclesFelt Bicycles is a manufacturer and marketer of racing and mountain bikes
Personal Care •
•
Church & Dwight Co., Inc. (NYSE:CHD), a marketer of household, personal care and specialty products acquired the Anusol and Rectinol brands from Johnson & Johnson (NYSE:JNJ) for $130 million, representing a 5.4x EV/Revenue multipleAnusol and Rectinol brands of Johnson & Johnson are hemorrhoid care ointments
Home, Garden & Pet •
•
WellPet LLC, a marketer of premium natural pet foods and portfolio company of Berwind Corporation, acquired WHIMZEESWHIMZEES is a Netherlands based marketer of natural dental chews for dogs
Consumer Headline Transactions
LTM Gross & EBITDA Margins
Enterprise Value / LTM EBITDAEnterprise Value / LTM Revenue
Consumer MonthlyMarch 2017
Note: EBITDA Margins in green
LTM Revenue Growth
37.4% 39.0%
46.3%
38.9%
56.6%
36.7%
9.1%
17.5%13.0% 12.4%
18.9% 16.9%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
Gift & HomeDécor
Food &Beverage
Apparel &Accessories
RecreationalProducts
Personal Care Home, Garden& Pet
LTM EB
ITDA
Margin
LTM
Gro
ss M
argi
n
0.7x
2.8x
1.1x 1.2x
2.6x 2.3x
0.0
1.0x
2.0x
3.0x
4.0x
Gift & HomeDécor
Food &Beverage
Apparel &Accessories
RecreationalProducts
Personal Care Home, Garden &Pet
EV /
LTM
Rev
enu
e
7.2x
14.8x
10.2x 10.6x
13.2x 13.3x
0.0
5.0x
10.0x
15.0x
20.0x
Gift & HomeDécor
Food &Beverage
Apparel &Accessories
RecreationalProducts
Personal Care Home, Garden &Pet
EV /
LTM
EB
ITD
A
80%
90%
100%
110%
120%
130%
Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17
Shar
e Pr
ice
Inde
x
Recreational Products
Personal Cae
Food & Beverage
Home, Garden & Pet
Gift & Home Décor
Apparel & Accessories
S&P 500
127%
106%
115%
119%
99%
95%
89%
New York641 Lexington Avenue30th FloorNew York, NY 10022Tel: 212.809.1360
Boston201 Washington Street32nd FloorBoston, MA 02108Tel: 617.259.2200
Atlanta3575 Piedmont Rd NE Suite 1010Atlanta, GA 30305 Tel: 404.995.6230
www.tmcapital.com
TM Capital’s Consumer Industry Contacts
Craig M. Gibson Managing Director
[email protected] 617-259-2204
James S. Grien Managing Director
[email protected] 404-995-6235
Philip S. Krieger Principal
[email protected] 404-995-6242
Gift & Home Décor
Selected TM Capital Consumer Experience
Target Acquiror Transaction Description
Golden Goose Deluxe Brand
The Carlyle Group (NASDAQ: CG)
The Carlyle Group, a global investment firm, acquired Golden Goose, an Italian luxury lifestyle fashion company
cabi, LLC Sentinel Capital Partners, L.L.C.
Sentinel Capital Partners, a private equity firm, acquired cabi, a designer and marketer of women’s apparel
Target Acquiror Transaction Description
Tech 4 Kids Inc. The Bridge Direct, Inc. The Bridge Direct, a provider of toys, agreed to acquire Tech 4 Kids, a Canadian provider of toys and games
Deer Crossing Archery LLC
Private Investor A private investor acquired Deer Crossing Archery, a provider of hunting, target, and crossbow arrows for archers and hunters
LTM Stock Price Index
Food & Beverage
Apparel & Accessories Recreational Products
Personal Care Home, Garden & PetTarget Acquiror Transaction Description
Body Plus Nutritional Products Inc.
Jamieson Laboratories Ltd.
Jamieson Laboratories, a Canadian provider of vitamins, minerals and supplements, acquired Body Plus, a Canadian provider of natural health and sports nutrition supplements
Han Bul Cosmetics Co., Ltd.
It's Skin Co., Ltd. (KOSE:A226320)
It's Skin, a South Korean provider of skin care products, agreed to acquire Han Bul Cosmetics, a South Korean provider of cosmetic products
Target Acquiror Transaction Description
AlternaScapes, Inc. Easyturf, Inc. Easyturf, a subsidiary of Tarkett and provider of synthetic turf, acquired AlternaScapes, a provider of artificial turf products
Gambol Pet Group KKR & Co. L.P. (NYSE:KKR)
KKR, a private equity firm, made an undisclosed investment in Gambol Pet Group, a Chinese provider of pet food
Target Acquiror Transaction Description
Mead Johnson Nutrition Company (NYSE:MJN)
Reckitt Benckiser Group plc (LSE:RB.)
Reckitt Benckiser, a UK based marketer of health, hygiene and home products, agreed to acquire Mead Johnson, a provider of pediatric nutrition products, for $17.9 billion
Lightlife Foods, Inc. Maple Leaf Foods Inc. (TSX:MFI)
Maple Leaf, a Canadian provider of consumer packaged meats, acquired Lightlife Foods, a provider of refrigerated plant-based protein foods, for $140 million
Selected Consumer Transactions
Target Acquiror Transaction Description
Kohler Interiors Group, Ltd.
Samson Holding Ltd. (SEHK:531)
Samson Holding, a Chinese provider of home furniture, acquired Kohler Interiors, a manufacturer of furniture, accessories and home furnishings
Oden Gallery Real Switzer Holdings Ltd.
Real Switzer, a Canadian retailer and distributor of high end furniture, acquired Oden Gallery, a Canadian online retailer for artisan crafted home décor and furnishings