consumer monthly 2017.02 - tm capital...

0.4%

1.9%

0.7%

7.4%

2.0%1.5%

0.0%

2.0%

4.0%

6.0%

8.0%

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

& Yixing Capital

•

•

Luolai Lifestyle Technology Co., Ltd. (SZSE:002293), a Chinese home furnishings retailer, and Yixing Capital, a Chinese private equity firm, acquired Lexington Home Brands from Sun Capital PartnersLexington Home Brands is a global manufacturer and marketer of residential and contract furnishings

Food & Beverage •

•

J&J Snack Foods Corp. (NasdaqGS:JJSF), a marketer of snack foods and beverages, acquired Hill & Valley, Inc. for $31.0 million, representing a 0.7 EV/Revenue multipleHill & Valley is a provider of cakes, cookies, pies and other desserts and a leader in the sugar free category

Apparel & Accessories

•

•

Essilor International SA (ENXTPA:EI), a French provider of ophthalmic lenses, agreed to acquire Luxottica Group S.p.A. (BIT:LUX) for approximately $24 billionLuxottica Group is an Italian provider of fashion, luxury, sports and performance eyewear marketed under Ray-Ban, Oakley and other brands

Recreational Products

•

•

Textron Inc. (NYSE:TXT), an industrial conglomerate with a specialized vehicles division, agreed to acquire Arctic Cat Inc. (NasdaqGS:ACAT) for $247 millionArctic Cat is a marketer of all-terrain vehicles (ATVs), side-by-sides, snowmobiles, and related garments and accessories

Personal Care•

•

L'Oréal S.A. (ENXTPA:OR), a French marketer of cosmetic products, agreed to acquire skincare brands from Valeant Pharmaceuticals (NYSE:VRX) for $1.3 billionValeant Pharmaceuticals' skincare brands comprise CeraVe, AcneFree and Ambi brands

Home, Garden & Pet

•

•

Stanley Black & Decker (NYSE:SWK), a provider of tools and storage, electronic security and engineered fastening systems, agreed to acquire the Craftsman brand from Sears Holdings (NasdaqGS:SHLD) for consideration with a total present value of $900 millionCraftsman products include power & hand tools, storage products and lawn equipment

Food & BeverageFood & Beverage

Accessories


Personal Care

Pet

Consumer Headline Transactions

LTM Gross & EBITDA Margins

Enterprise Value / LTM EBITDAEnterprise Value / LTM Revenue

Consumer MonthlyFebruary 2017

Note: EBITDA Margins in green

LTM Revenue Growth

37.4% 38.8%

46.5%

37.9%

56.6%

36.0%

9.1%

17.6%13.1% 11.6%

18.7%16.5%

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

2.4x 2.3x

0.0

1.0x

2.0x

3.0x

4.0x

Gift & HomeDécor

Food &Beverage




EV /

LTM

Rev

enu

e

7.1x

14.6x

10.5x 11.6x

13.1x 12.7x

0.0

5.0x

10.0x

15.0x

20.0x

Gift & HomeDécor

Food &Beverage




EV /

LTM

EB

ITD

A

90%

100%

110%

120%

130%

140%

Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17

Shar

e Pr

ice

Inde

x

Food & Beverage

Personal Cae


Home, Garden & Pet

Gift & Home Décor

Apparel & Accessories

S&P 500

133%

109%

117%

118%

105%

102%

97%

New York641 Lexington Avenue30th FloorNew York, NY 10022Tel: 212.809.1360

Boston201 Washington Street32nd FloorBoston, MA 02108Tel: 617.259.2200

Atlanta3575 Piedmont Rd NESuite 1010Atlanta, GA 30305Tel: 404.995.6230

www.tmcapital.com

TM Capital’s Consumer Industry Contacts

Craig M. GibsonManaging Director

[email protected]

James S. GrienManaging Director

[email protected]

Philip S. KriegerPrincipal

[email protected]

Gift & Home Décor

Selected TM Capital Consumer Experience

Target Acquiror Transaction Description

OGIO International, Inc. Callaway Golf Company (NYSE:ELY)

Callaway, a marketer of golf equipment and accessories, acquired OGIO, a marketer of bags, accessories and apparel for the golf, lifestyle and motorsports categories, for $75.5 million

Schwartz & Benjamin, Inc.

Steven Madden, Ltd. (NasdaqGS:SHOO)

Steve Madden, a marketer of fashion footwear and accessories, acquired Schwartz & Benjamin, a provider of licensed and private label footwear


Kwik Tek, Inc. Falconhead Capital, LLC & M3 Outdoor Investments LLC

Falconhead & M3 Outdoor, private equity firms, acquired Kwik Tek, a supplier of outdoor branded products for the recreational watersports and winter sports markets

Gared Holdings, LLC Management & Gen Cap America, Inc.

Management along with Gen Cap America, a private equity firm, acquired Gared Holdings, a provider of sports equipment and custom gymnasium solutions

LTM Stock Price Index

Food & Beverage

Apparel & Accessories Recreational Products

Personal Care Home, Garden & PetTarget Acquiror Transaction Description

Younique, LLC Coty Inc. (NYSE:COTY) Coty, a marketer of beauty products, acquired a 60% stake in Younique, a leading online peer-to-peer social selling beauty platform, valuing the company at $1.0 billion

Viviscal Ltd. Church & Dwight Co., Inc. (NYSE:CHD)

Church & Dwight, a marketer of household, personal care and specialty products, acquired hair care brand, Viviscal, from Lifes2Good Holdings for $160 million


HG International B.V. Cobepa S.A. Cobepa, a Belgium private equity firm, agreed to acquire HG International, a Netherlands based provider of cleaning, maintenance and enhancement products for household applications

Canine Containment Distributing Company, Inc.

Radio Systems Corporation

Radio Systems, a provider of pet products dba PetSafe and portfolio company of TSG Consumer Partners, acquired Canine Containment, a distributor of pet containment systems


Nustef Foods Limited The Riverside Company The Riverside Company, a private equity firm, acquired Nustef, a Canadian provider of Italian-inspired pizelle waffle cookies and artisan crackers marketed under the Reko brand

Love & Quiches Ltd. Indulge Desserts Holdings, LLC

Indulge Desserts, a provider of gourmet desserts and portfolio company of AUA Private Equity, acquired Love & Quiches, a provider of gourmet desserts and quiches

Selected Consumer Transactions


Art Van Furniture, Inc. Thomas H. Lee Partners, L.P.

Thomas H. Lee Partners, a private equity firm, agreed to acquire Art Van Furniture, a furniture retailer

Tablewerks, Inc. Steelite International Steelite International, a provider of tabletop products and portfolio company of PNC RiverArch Capital, acquired Tablewerks, a provider of tableware products

consumer monthly 2017.02 - tm capital...

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