Pro Forma Financials and Market Positioning
Track Record of Accretive and Well-Integrated Acquisitions
Year
2019
Target
HAWAIIAN
CONAGRA
BRANDS.
Snacks
TIM'S
Snyder
Pre-Synergy
Post-Synergy
Adj. EBITDA Multiple Adj. EBITDA Multiple
11.2x
7.4x
Cost Synergy
% of Revenue
5.8%
2017
INVENTURE
FOODS
INC.
2016
OF BERLIN
BOULDER
NM
10.2x(1)
13.8%
FRIDAYS
Golden
Flake
15.8x
7.6x
9.6%
2013
good
health
13.2x
5.7x
8.7%
ENJOY BEING GOOD"
2011
Zappo
POTATO
CHIPS
8.0x
5.6x
7.0%
All Acquisitions (2)
7.4x
8.1%
Source: Management estimates. Table excludes smaller tuck-in acquisitions details.
1). Purchase price net of NPV of step-up tax amortization benefits expected to be realized from the transaction.
2). All acquisition statistics based on weighted average and includes 6 additional smaller tuck-in acquisitions completed since 2011.
⚫utz
SM
BRANDS
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