(Boursier.com) — The Group Bonduelle announces that it has entered into exclusive negotiations with the institutional investors Fonds de solidarité FTQ and the Caisse de dépôt et placement du Québec (CDPQ), with a view to acquiring, in equal shares between them, 65% of Bonduelle Americas Long Life (BALL ) and based on a 100% enterprise value of C$850 million (approximately €625 million), representing a 2020-2021 EBITDA multiple of 8.2x.
With a turnover of 943 million Canadian dollars for the year 2020-2021, BALL is dedicated to the processing and marketing of canned and frozen vegetables, in the United States and Canada, in mass distribution for the retail and foodservice, primarily private label, third-party brands as well as its own brands such as Arctic Gardens and Del Monte.
This partial disposal project follows the strategic review of the group’s activities, and in particular BALL, announced in September 2021. It aims to enable the group to continue the deployment of its activities, in particular branded, in line with its priorities. strategies and its ambition for sustainable growth with a positive impact.
“The entry into the capital of the Fonds de solidarité FTQ and the CDPQ would allow BALL to continue its development in a constantly consolidating North American market and to finance its growth and profitability investments, without new allocations of resources by the Group. Bonduelle, the latter ultimately benefiting, as a minority shareholder, from the value creation of this activity up to 35%” declared Guillaume Debrosse, Chief Executive Officer of the Bonduelle Group.
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