Pro Forma Financials and Market Positioning
Operating Benchmarking to Peers
CY
2019-2021E
Net Sales
CAGR
belling
12.0%
11.3%
3.5%
2.5%
2.3%
2.1%
1.4%
1.3%
0.7%
Simply Good (7)
FOODS LEMPUNT
butz.
BRANDS
CY
2019-2021E
Adj. EBITDA
CAGR
16.3%
14.9%
CY 2020E
EBITDA Margin
24.8%
PEPSICO
Flowersfoods
Hostess
(3)
Mondelez.
(4)
11.5%
4.9%
4.4%
4.4%
2.8%
(6)
Simply Good
DR. CONA
(7)
Butz
BRANDS
(2)
FlowersFoods
(3)
Hostess
PEPSICO
21.9% 21.3%
20.7% 20.3%
19.6%
HERSHEY'S
Kellogg's
(5)
(0.0%) (0.1%) (1.0%)
g
Campbells
Peer Median: 1.3%
(6)
(7.0%)
Mondelez (2)
2.3%
1.7%
1.6%
1.5%
1.3%
HERSHEY'S
18.1%
Kellogg's (5)
belling
Campbells
ร
Peer Median: 2.5%
(15.1%)
HERSHEY'S
Hostess (3)
Source: Company filings, FactSet. Market data as of June 1, 2020.
utz
SM
BRANDS
ร
Campbells
Mondele
(4)
belling
19.4%
PEPSICO
16.6%
13.6%
10.7%
(5)
Peer Median: 19.5%
10.2%
9.0%
1). Pro Forma for acquisition of Quest. 2). Pro Forma for FY impact of Conagra Snacks and Kitchen Cook acquisitions. 3). Pro Forma for acquisition of Voortman's. 4). Pro Forma for acquisition of Perfect Snacks. 5). Pro
Forma for divestiture of Keebler. 6). Pro Forma for divestiture of Tilda.
Simply Good
(7)
BOCOR CONHE
Kellogg's
butz
(2)
BRANDS
FlowersFoods
(6)
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