Eyebrows rose earlier this week at the US$16bn that Suntory is set to pay for Beam Inc. At 20 times the company’s EBITDA, the transaction is at the more expensive end of the scale. Here, courtesy of analysts at Nomura, we list the multiples of spirits purchases this Century.
Year | Acquiror | Target | EV/ EBITDA |
---|---|---|---|
2001 | Diageo/Pernod Ricard | Seagram | 15x |
2004 | Bacardi | Grey Goose | 26x |
2004 | LVMH | Glenmorangie | 21x |
2005 | Pernod Ricard/Fortune Brands | Allied Domecq | 10x |
2006 | Brown-Forman | Chambord | |
2006 | Brown-Forman | Case Herradura | 22x |
2008 | Pernod Ricard | Vin & Spirit | 21x |
2009 | Davide Campari | Wild Turkey | 12x |
2010 | William Grant & Sons | C&C Spirits & Liqueur business | 20x* |
2010 | Davide Campari | C&C Spirits & Liqueur business | 7.5x* |
2011 | Diageo | Mey Icki | 9.9x |
2012 | Diageo | Ypioca | 17x |
2012 | Remy Cointreau | Bruichladdich | 24x |
2012 | Beam Inc | Pinnacle Vodka | 17x |
2012 | Davide Campari | Lascelles de Mercado | 15x |
2013 | Suntory | Beam Inc | 20x |