deal hound pet report q1 2017 - sdr-uyfpxh6dk.netdna-ssl.com€¦ · (pet supermarket) 8/31/2009...

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Strategic87%

Financial13%

4

2

-

1

-

2

5

1 1

-

1

2

3

4

5

6

Pet Food Pet Treats Retailers Hard Goods Co-Packers AnimalHealth

VeterinaryServices

Pet CareServices

Pet Tech

Date Target Buyer(s) SegmentAmount

($ in Mil)TEV/ Rev TEV/ EBITDA

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

8,821 3.50x 18.00x


Financial Buyer Inv. Date Select Corporate Acquisitions

▪Graham Partners 11/11/2016 ▪ Mercer Foods LLC

(Bright Pet) 4/28/2016 ▪ Ohio Pet Foods, Inc.

4/28/2016 ▪ Southern Tier Pet Nutrition LLC

4/28/2016 ▪ Blackwood Pet Food, LLC▪Mistral Equity Partners LLC 10/10/2016 ▪ Sherpa Pet Trading Co.

(Worldwise, Inc.) 5/28/2015 ▪ Quaker Pet Group

5/20/2014 ▪ Spot Experience Group LLC (Investment)

5/2/2011 ▪ Worldwise, Inc.▪500 Startups 8/1/2016 ▪ Treat, Inc.

2/16/2016 ▪ PupBox, Inc.

4/9/2013 ▪ Bark & Co▪Roark Capital Group 4/13/2015 ▪ Pet Supermarket, Inc.

(Pet Supermarket) 8/31/2009 ▪ Pet Valu, Inc.

8/31/2009 ▪ Pet Valu Canada, Inc.▪The Riverside Company 12/7/2016 ▪ Dublin Dog Co.

(Outward Hound) 10/15/2015 ▪ Petstages, Inc.

9/9/2015 ▪ Zoo Active Products AB

1/13/2015 ▪ Bionic Pet Products Inc.

Strategic Buyer Inv. Date Select Corporate Acquisitions

Radio Systems Corporation 3/20/2017 ▪ Solvit Products

5/31/2016 ▪ The Piddle Place, LLC

2/5/2013 ▪ Pup-Pee Solutions USA LLC

11/30/2012 ▪ Lucky Litter LLC

6/7/2010 ▪ Veterinary Ventures, Inc.

Bentley's Pet Stuff LLC 9/29/2016 ▪ Moochie & Co., Inc.

9/29/2016 ▪ Pet Food Zoom, Inc.

7/14/2016 ▪ Go Dog Go, Inc.

5/4/2016 ▪ ITS A PETS LIFE, Inc.

4/22/2016 ▪ Natural Pet Marketplace, LLC

2/16/2016 ▪ The Pet Outpost, L.L.C▪Innovetive Petcare, Inc. 2/1/2017 ▪ Sun Dog Cat Moon Veterinary Clinic

9/8/2016 ▪ Crossroads Pet Hospital of Carrolton and Chisolm Trail Vet Clinics of Lockhart

5/8/2016 ▪ Veterinary Referral Hospital of Hickory

8/19/2015 ▪ Chattanooga Emergency Pet Hospital (CEPH)

2/24/2015 ▪ Animal Emergency & Specialty Center, LLC▪Mars, Incorporated 1/9/2017 ▪ VCA, Inc.

3/31/2016 ▪ Whistle Labs, Inc.

10/9/2015 ▪ BluePearl Veterinary Partners LLC

1/29/2015 ▪ Snaptracs, Inc.

▪


Company Name SymbolMarket Cap

($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Nestlé SA NESN-CH 223,686$ 71.87$ -4.6% -2.0% 86.2% 4.0% 19.5% 2.8x 14.6x 25.7x 2.7x 14.1x

Colgate-Palmolive Co. CL-US 58,166 65.44 -11.7% -1.8% 86.8% 2.7% 29.8% 4.6x 15.9x 24.1x 4.6x 15.4x

The J. M. Smucker Co. SJM-US 14,911 128.06 -5.5% 3.8% 81.4% 0.9% 23.2% 2.7x 11.6x 22.3x 2.7x 11.5x

Spectrum Brands Holdings, Inc. SPB-US 7,299 122.33 -11.2% 20.2% 88.0% 3.3% 16.4% 2.3x 13.1x 20.9x 2.3x 11.6x

Blue Buffalo Pet Products, Inc. BUFF-US 4,722 24.04 1.2% 28.5% 87.4% 11.4% 21.2% 4.0x 17.6x 37.0x 3.6x 14.4x

Central Garden & Pet Co. CENT-US 1,555 33.09 27.3% 144.7% 95.9% 5.2% 7.1% 1.2x 12.3x 27.6x 1.2x 11.8x

Omega Protein Corp. OME-US 562 25.05 7.2% 12.8% 95.2% (5.3%) 20.0% 1.1x 4.3x 17.2x 1.1x 4.8x

Freshpet Inc. FRPT-US 344 10.15 17.3% 19.6% 85.9% 19.1% 13.2% 2.8x 49.1x NM 2.3x 22.0x

Segment Average 5.2% 18.8% 2.7x 17.3x 25.0x 2.6x 13.2x

Segment Median 3.6% 19.7% 2.8x 13.8x 24.1x 2.5x 13.0x

Market Stats Operating Stats LTM Multiples NTM Multiples

-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

Pet Food Retailers Hard Goods Animal Health S&P 500


($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Tractor Supply Co. TSCO-US 9,950$ 75.81$ 12.6% -11.3% 78.0% 9.2% 12.2% 1.4x 11.0x 23.2x 1.3x 10.5x

PetMed Express, Inc. PETS-US 474 23.07 13.8% 34.6% 97.0% 2.9% 15.3% 1.5x 10.3x 21.6x 1.5x 9.6x






($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Merck & Co., Inc. MRK-US 162,313$ 58.87$ -5.7% 11.5% 89.9% 1.4% 6.9% 4.7x 11.6x 41.8x 4.7x 11.3x

Sanofi SAN-FR 104,702 81.11 13.7% -2.2% 90.7% 8.9% 31.0% 3.4x 11.8x 20.0x 3.2x 9.8x

Eli Lilly & Co. LLY-US 81,195 73.55 -8.4% -12.7% 85.8% 4.7% 24.3% 4.6x 18.1x 28.5x 4.2x 14.6x

Zoetis, Inc. ZTS-US 26,435 53.53 2.9% 11.7% 98.9% 7.3% 29.9% 6.1x 17.8x 32.4x 5.8x 15.1x

Henry Schein, Inc. HSIC-US 12,211 151.71 -6.9% -4.1% 82.9% 5.5% 8.8% 1.3x 15.5x 24.5x 1.3x 14.6x

IDEXX Laboratories, Inc. IDXX-US 10,514 117.27 4.0% 60.8% 96.3% 10.7% 23.5% 8.1x 33.9x 48.1x 7.6x 30.7x

VCA, Inc. WOOF-US 5,570 68.65 -1.9% 24.8% 93.2% 16.0% 16.6% 3.5x 18.0x 26.8x 3.0x 15.3x

Akorn, Inc. AKRX-US 2,734 21.83 -19.9% -41.5% 55.3% (6.3%) 40.2% 3.2x 7.8x 14.9x 3.5x 9.3x

Neogen Corp. NEOG-US 2,506 66.00 18.0% 16.8% 95.5% 12.4% 20.4% 6.7x 31.3x 61.1x 6.1x 27.1x

Phibro Animal Health Corp. PAHC-US 543 29.30 7.8% -2.8% 82.1% 2.9% 15.4% 1.9x 12.2x 19.7x 1.8x 11.3x

Trupanion, Inc. TRUP-US 454 15.52 -8.2% 59.0% 87.8% 30.2% (0.8%) 2.0x NM NM 1.5x 70.5x

Heska Corp. HSKA-US 494 71.60 31.5% 85.1% 96.3% 17.3% 19.6% 5.7x 35.3x 50.1x 5.1x 28.8x

Aratana Therapeutics, Inc. PETX-US 266 7.18 -23.3% 28.7% 66.9% NM NM 3.9x NM NM 5.6x NM

Jaguar Animal Health, Inc. JAGX-US 10 0.72 -44.1% -68.2% 15.6% NM NM 116.1x NM NM 2.3x NM

RiceBran Technologies RIBT-US 11 1.03 -23.7% -45.8% 43.6% 16.2% (10.4%) 0.6x NM NM 0.5x NM

Sonoma Pharmaceuticals, Inc. OCLS-US 21 5.04 16.1% -12.3% 70.5% 29.6% (104.3%) 0.7x NM NM 0.6x NM





($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

The Clorox Co. CLX-US 15,452$ 120.02$ -4.1% -5.4% 85.4% 4.3% 22.4% 3.3x 15.5x 24.1x 3.2x 14.6x

Church & Dwight Co., Inc. CHD-US 11,428 44.19 -7.8% 4.1% 82.3% 4.5% 23.0% 3.9x 16.3x 25.3x 3.8x 15.7x

Spectrum Brands Holdings, Inc. SPB-US 7,299 122.33 -11.2% 20.2% 88.0% 3.3% 16.4% 2.3x 13.1x 20.9x 2.3x 11.6x

HRG Group, Inc. HRG-US 3,126 15.56 -0.9% 14.7% 94.9% NM 16.6% 2.0x 12.3x 66.1x NM NM

Central Garden & Pet Co. CENT-US 1,555 33.09 27.3% 144.7% 95.9% 5.2% 7.1% 1.2x 12.3x 27.6x 1.2x 11.8x

Oil-Dri Corp. of America ODC-US 194 38.21 1.5% 3.7% 93.3% NM 13.5% 0.9x 10.1x 26.4x NM NM

Boss Holdings, Inc. BSHI-US 27 13.03 0.9% 7.0% 74.4% NM NM 0.3x 4.4x NM NM NM

Jewett-Cameron Trading Co. Ltd. JCTCF-US 29 12.90 4.5% 28.7% 86.3% NM NM 0.5x 6.1x NM NM NM





Date Target Buyer(s) SegmentAmount

($ in Mil)TEV/ Rev

TEV/

EBITDA3/31/2017 Medical Ethics Pty Ltd. Dechra Pharmaceuticals Plc Animal Health $46.04 - -

3/29/2017 Dog Vacay, Inc. A Place for Rover, Inc.; Madrona Venture Group LLC; Menlo Ventures; Foundry Group LLC; A-Grade InvestmentsPet Care Services - - -

3/28/2017 Nature's Logic VisioCap, LLC Pet Food - - -

3/22/2017 Complete Natural Nutrition Parkers Pet Provisions Pet Treats - - -

3/20/2017 Solvit Products Radio Systems Corporation Hard Goods - - -

3/20/2017 Omnipet, LLC (dba PetFlow) Phillips Feed Service, Inc. Pet Food - - -

3/6/2017 Inyanga Trading 386 Pty Ltd. (2 Subs) Ascendis Health Ltd. Animal Health 28.67 - -

2/28/2017 Gambol Pet Group Co. Ltd. KKR & Co. L.P. (NYSE:KKR) Pet Food - - -

2/28/2017 Healthy Life Pets LLC Petlife Pharmaceuticals, Inc. Veterinary Services - - -

2/7/2017 WHIMZEES WellPet LLC Pet Treats - - -

2/1/2017 Sun Dog Cat Moon Veterinary Clinic Innovetive Petcare, Inc. Veterinary Services - - -

1/27/2017 Ask The Veterinarian Healthbrands, Inc. Veterinary Services - - -

1/19/2017 Altimmune, Inc. PharmAthene, Inc. Veterinary Services - - -

1/10/2017 Fetching Communications LLC French/West/Vaughan LLC Pet Tech - - -

1/10/2017 Crosswind Industries, Inc. Archer-Daniels-Midland Co. Pet Food - - -

1/9/2017 VCA, Inc. Mars, Inc. Veterinary Services 8,821.26 3.50x 18.00x

12/19/2016 Holistic Pet Source, Inc Animal Supply Co. LLC Retailers - - -

12/7/2016 Dublin Dog Co. Riverside Partners LLC (New York); The Kyjen Co. LLCHard Goods - - -

12/6/2016 PawPack LLC The Gift Box, Inc. Pet Treats - - -

11/22/2016 Wyldlifepets.Com Chew.Club LLC Pet Treats - - -

11/17/2016 Veterinary Products Laboratories Pegasus Laboratories, Inc. Animal Health - - -

11/15/2016 Such A Good Dog LLC Flex Creative, Inc. Pet Care Services - - -

11/15/2016 PawedIn LLC FetchFind LLC Pet Tech - - -

11/11/2016 Mercer Foods LLC Graham Partners, Inc. Pet Food - - -

11/10/2016 Ipsos America, Inc. (Agri & Animal Health Bus) Kynetec UK Ltd. Animal Health - - -

11/1/2016 20x60 LLC Born To Sell LLC Hard Goods - - -

10/28/2016 Intersections, Inc. (Pet Health Monitoring) Loeb Holding Corp. Animal Health - - -

10/24/2016 Segrest, Inc. Central Garden & Pet Co. Retailers 60.00 - -

10/19/2016 DCl Ventures, Inc. PetSmart, Inc. Pet Tech - - -

10/18/2016 Wylie Wagg Healthy Pet Food & Supplies Kriser's Feeding Pets for Life LLC Retailers - - -

10/12/2016 Intelligent Content Corp. Independence Holding Co. Pet Tech - - -

10/10/2016 Sherpa Pet Trading Co. Worldwise, Inc. Hard Goods - - -

10/4/2016 Bugout Pet Feeding Systems Coastal Integrated Services, Inc. Hard Goods - - -


deal hound pet report q1 2017 - sdr-uyfpxh6dk.netdna-ssl.com€¦ · (pet supermarket) 8/31/2009...

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