consumer monthly march 2017 - tmcapital.com · gambol pet group kkr & co. l.p. (nyse:kkr) kkr,...

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



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




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




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


Philip S. Krieger Principal


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


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


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


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


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

consumer monthly march 2017 - tmcapital.com · gambol pet group kkr & co. l.p. (nyse:kkr) kkr,...

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