VRC is proud to release its latest Industry Report. The report provides a concise, insightful update on the Consumer Product Goods – Food & Beverage industry including recent transactions, market multiples, company performance and purchase price allocation percentages.

Industry Highlights

• On October 10, 2023, Post Holdings, Inc., a consumer-packaged goods holding company, announced that it agreed to acquire the assets of Perfection Pet Foods, LLC for $235 million. Perfection is a leading manufacturer and packager of private label and co-manufactured pet food and baked treat products. The acquisition includes two manufacturing facilities in Visalia, California.
• On September 11, 2023, The J. M. Smucker Co. announced the signing of a definitive agreement to acquire Hostess Brands, Inc. for $34.25 per share, representing a total enterprise value of approximately $5.6 billion. This represents an adjusted EBITDA multiple of approximately 17.2x based on the Company’s estimate of Hostess Brands full year 2023 results.

Past Industry Updates

CPG Food & Beverage: June 2023

CPG Food & Beverage: February 2023

CPG Food & Beverage: November 2022