(CercleFinance.com) – The Bonduelle Group 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).
These negotiations relate to the acquisition, in equal shares between them, of 65% of Bonduelle Americas Long Life (BALL) and on the basis of an enterprise value at 100% of 850 million Canadian dollars (approximately 625 million euros), i.e. 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 catering.
‘ 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, with the latter ultimately benefiting, as a minority shareholder, from the value creation of this activity up to 35%. ‘ says Guillaume Debrosse, Chief Executive Officer of the Bonduelle Group.
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