CDPQ and FTQ Acquire Controlling Stake in Bonduelle Americas Long Life

Caisse de dépôt et placement du Québec (CDPQ) released a statement that Bonduelle has entered into exclusive negotiations with it and the Fonds de solidarité FTQ for the disposal of 65% of Bonduelle Americas Long Life: The Bonduelle Group announces that it has entered into exclusive negotiations with the institutional investors Fonds de solidarité FTQ and Caisse de dépôt et placement du Québec (CDPQ), with a view, for these investors, to acquiring 65% of Bonduelle Americas Long Life (BALL) and based on a 100% enterprise value of C$ 850 million (approximately € 625 million), representing a 2020-2021 EBITDA multiple of 8.2x. With a revenue of C$ 943 million for financial year 2020-2021, BALL is dedicated to the processing and marketing of canned and frozen vegetables in the United States and Canada, in the retail supermarket and food service sectors, mainly with private labels, third party brands and own brands such as Arctic Garde