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Date Target Buyer(s) SegmentAmount
($ in Mil)
TEV/
Rev
TEV/
EBITDA8/28/2017 Hewitt Equipment Ltd. Toromont Industries Ltd. Machinery & Equipment $815.24 1.02x -
8/28/2017 Merritt Veterinary Supplies, Inc. Henry Schein, Inc. Animal Health & Nutrition 89.00 0.77x -
8/8/2017 Star Route Farms LLC University of San Francisco Produce 10.40 - -
8/2/2017 TerraVia Holdings, Inc. Corbion NV Animal Health & Nutrition 154.58 11.78x -2.73x
7/27/2017 Daiya Foods, Inc. Otsuka Pharmaceutical Co., Ltd. Dairy 323.11 - -
7/20/2017 Creekstone Farms Premium Beef
LLC
Marubeni Corp. Proteins 170.00 - -
7/19/2017 Costa Farms LLC Markel Corp. Crop/ Turf/ Ornamental Inputs 314.81 - -
7/14/2017 JBS Food Canada Inc (Cattle
Feeding Business)
MCF Holdings Ltd (Canada) Proteins 39.23 - -
7/13/2017 Westbrook Greenhouses Ltd.
(Greenhouse Facility)
UP Cannabis, Inc. Diversified Agribusiness 5.69 - -
7/3/2017 Stonyfield Farm, Inc. Groupe Lactalis SA Dairy 875.00 - -
Strategic89%
Financial11%
1
10 5
5 1 4
3 2 6 1
- 2 4 6 8
10 12
Financial Buyer Inv. Date Select Corporate Acquisitions6/7/2017 ▪ BeetNPath, LLC8/24/2016 ▪ Hip Chick Farms, Inc.6/23/2016 ▪ Pacific Ag
2/18/2016 ▪ American Botanicals LLC
2/4/2016 ▪ Hortau Inc.
7/6/2017 ▪ Olson Irrigation Systems
11/2/2016 ▪ Environmental Treatment Systems, Inc.
8/8/2016 ▪ Delta Ultraviolet Corp.
CAVU Venture Partners 5/24/2017 ▪ Bulletproof 360, Inc.
5/9/2016 ▪ Lyrical Foods, Inc.
4/29/2016 ▪ Chef's Cut Real Jerky
3/8/2016 ▪ good culture, LLC
3/4/2016 ▪ Health-Ade, LLC
8/26/2015 ▪ High Brew Coffee, Inc.
Dane Creek Capital Corp. 9/14/2017 ▪ Mountain Dog Enterprises, Inc.
7/25/2017 ▪ Ascenta Health Ltd. (Non-Manufacturing Pet Assets)
11/15/2016 ▪ Midgard Insect Farm, Inc.
6/16/2017 ▪ Duravant LLC
12/14/2016 ▪ DuPont Nutrition & Health, Inc.
3/20/2017 ▪ Cowlar, Inc.
2/2/2017 ▪ Interprovincial Meat Sales Ltd.
6/30/2016 ▪ Oh My Green, Inc.
6/30/2016 ▪ Raptor Maps, Inc.
1/31/2016 ▪ Iron Ox, Inc.
Y Combinator
AEA Investors
Advantage Capital Partners
Warburg Pincus LLC
Strategic Buyer Inv. Date Select Corporate Acquisitions5/25/2017 ▪ Evergreen Partners of Raleigh LLC
2/6/2017 ▪ Stone Forest Materials LLC
1/20/2017 ▪ Aspen Valley Landscape Supply, Inc.
12/19/2016 ▪ East Haven Hay & Grain Supply, Inc.
11/7/2016 ▪ Loma Vista Nursery, Inc.
8/2/2016 ▪ Bissett Nursery Corporation
4/5/2016 ▪ Blue Max Materials, Inc.
1/4/2016 ▪ Hydro-Scape Products, Inc.
9/19/2017 ▪ Leadbetter Foods, Inc.
2/2/2017 ▪ Interprovincial Meat Sales Ltd.
10/13/2016 ▪ Belmont Meat Products Ltd.
12/14/2016 ▪ 8,638 Acres of Farmland in Illinois
9/12/2016 ▪ American Farmland Company
8/4/2016 ▪ Nine Farms Totaling 5,477 Acres
7/7/2016 ▪ 2,400 Acres of Land in Florida
5/9/2016 ▪ Three Farms Totalling 1,111 Acres in Georgia and Mississippi
4/4/2016 ▪ 7,400 Acre Farm in Lousiana
3/2/2016 ▪ 1254 Farms in Five States
4/5/2017 ▪ Arborguard, Inc.
4/15/2016 ▪ Jones Bros. Tree & Landscape Co., Inc.
4/23/2015 ▪ Kerns Brothers Tree Services & Landscaping, LLC
4/2/2015 ▪ Nature First Tree Care, Inc.
7/31/2014 ▪ Lawn Logic, LLC
4/4/2017 ▪ Global Industries, Inc.
11/10/2016 ▪ Yargus Manufacturing, Inc.
3/13/2016 ▪ NuVision Industries Inc.
3/9/2016 ▪ Entringer Industrial S.A.
11/30/2015 ▪ G J VIS Enterprises Inc.
SiteOne Landscape Supply, Inc. (NYSE:SITE)
Farmland Partners Inc. (NYSE:FPI)
Ag Growth International Inc. (TSX:AFN)
The Davey Tree Expert Company
Premium Brands Holdings Corp.
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
Diversified Agribusiness Crop/ Turf/ Ornamental Inputs Animal Health & Nutrition
Machinery & Equipment Agriproducts Distribution Agricultural Technology & Services
Dairy Produce Proteins
Oilseeds & Ingredients S&P 500
Company Name SymbolMarket Cap
($ in Mil)Price ($)
Quarter
Change
YTD
Change
% of 52
Week High
Est.
Revenue
Growth
EBITDA
Margin
TEV/
Rev
TEV/
EBITDA
Price/
EPS
TEV/
NTM
Revenue
TEV/
NTM
EBITDA
Archer-Daniels-Midland Co. ADM 23,913$ 42.51$ 2.7% -6.9% 88.8% 4.3% 3.8% 0.5x 13.1x 18.0x 0.5x 9.1x
Bunge Ltd. BG 9,766 69.46 -6.9% -3.8% 82.9% 5.3% 1.5% 0.3x 37.2x 20.8x 0.3x 8.0x
Seaboard Corp. SEB 5,275 4,505.00 12.8% 14.0% 99.0% NM 5.9% 0.8x 12.2x 16.4x NM NM
The Andersons, Inc. ANDE 971 34.25 0.3% -23.4% 76.3% 4.4% 8.6% 0.4x 8.3x NM 0.4x 8.2x
Limoneira Co. LMNR 334 23.17 -1.9% 7.7% 94.6% 2.6% 36.6% 3.6x 20.4x 38.0x 3.6x 18.2x
Alico, Inc. ALCO 282 34.15 9.1% 25.8% 98.1% NM 29.2% 3.6x 14.0x 46.1x NM NM
Segment Average 4.2% 14.3% 1.5x 17.5x 27.9x 1.2x 10.9x
Segment Median 4.4% 7.2% 0.6x 13.5x 20.8x 0.4x 8.7x
Market Stats Operating Stats LTM Multiples NTM Multiples
Company Name SymbolMarket Cap
($ in Mil)Price ($)
Quarter
Change
YTD
Change
% of 52
Week High
Est.
Revenue
Growth
EBITDA
Margin
TEV/
Rev
TEV/
EBITDA
Price/
EPS
TEV/
NTM
Revenue
TEV/
NTM
EBITDA
DowDuPont, Inc. DOW 161,719$ 69.23$ 9.8% 21.0% 97.9% 55.0% 18.2% 3.4x 19.3x 27.9x 1.2x 5.5x
Monsanto Co. MON 52,640 119.82 1.2% 13.9% 99.5% 2.8% 6.2% 4.0x 14.2x 23.5x 3.9x 13.0x
Syngenta AG SYT 42,649 92.06 -0.6% 16.5% 92.1% 7.1% 24.3% 3.6x 16.8x 40.5x 3.3x 15.3x
Potash Corp. of Saskatchewan, Inc. POT 16,135 19.24 18.0% 6.4% 94.9% (5.3%) 29.6% 4.7x 16.5x 33.8x 5.0x 12.9x
Agrium, Inc. AGU 14,774 107.21 18.5% 6.6% 95.8% 8.8% 15.9% 1.5x 12.1x 26.9x 1.4x 10.4x
Bunge Ltd. BG 9,766 69.46 -6.9% -3.8% 82.9% 5.3% 1.5% 0.3x 37.2x 20.8x 0.3x 8.0x
FMC Corp. FMC 11,979 89.31 22.3% 57.9% 95.6% 19.4% 18.8% 4.7x 20.4x 263.5x 3.5x 13.7x
The Mosaic Co. MOS 7,578 21.59 -5.4% -26.4% 62.8% 2.9% 15.2% 1.5x 10.7x 51.4x 1.5x 9.2x
CF Industries Holdings, Inc. CF 8,201 35.16 25.8% 11.7% 94.6% 10.0% 31.9% 4.1x 15.5x NM 3.7x 13.0x
Scotts Miracle-Gro Co. SMG 5,686 97.34 8.8% 1.9% 97.4% (4.3%) 24.5% 2.5x 13.9x 16.1x 2.7x 13.1x
Platform Specialty Products Corp. PAH 3,197 11.15 -12.1% 13.7% 75.2% 4.7% 18.9% 2.3x 11.7x NM 2.2x 9.6x
Compass Minerals International, Inc. CMP 2,195 64.90 -0.6% -17.2% 76.9% 19.9% 14.9% 2.8x 13.9x 18.1x 2.3x 10.0x
Terra Nitrogen Co. LP TNH 1,513 81.75 -4.8% -20.4% 70.6% NM 54.4% 3.8x 7.0x 12.6x NM NM
Central Garden & Pet Co. CENT 1,884 38.84 22.2% 17.4% 98.8% 4.7% 12.0% 1.2x 12.0x 29.4x 1.2x 11.4x
The Andersons, Inc. ANDE 971 34.25 0.3% -23.4% 76.3% 4.4% 8.6% 0.4x 8.3x NM 0.4x 8.2x
American Vanguard Corp. AVD 682 22.90 32.8% 19.6% 98.1% 21.0% 13.9% 2.2x 18.1x 46.7x 1.8x 12.7x
CVR Partners LP UAN 366 3.23 -7.4% -46.3% 46.5% 5.4% 32.9% 2.7x 10.4x NM 2.6x 8.0x
AgroFresh Solutions, Inc. AGFS 354 7.03 -2.1% 165.3% 77.7% NM (26.8%) 4.2x 10.4x NM NM NM
Intrepid Potash, Inc. IPI 568 4.36 92.9% 109.6% 98.4% (14.2%) 14.6% 3.5x NM NM 4.0x 18.5x
S&W Seed Co. SANW 65 3.15 -24.1% -31.5% 58.9% 2.8% (9.1%) 1.4x 65.0x NM 1.2x 20.6x
China Green Agriculture, Inc. CGA 47 1.23 -3.9% 2.5% 73.2% NM NM NM NM NM NM NM
Marrone Bio Innovations, Inc. MBII 36 1.15 -10.9% -46.3% 41.2% 126.8% (74.2%) 5.1x NM NM 2.2x NM
Origin Agritech Ltd. SEED 38 1.64 14.7% -30.5% 57.1% NM NM 1.6x NM NM NM NM
Arcadia Biosciences, Inc. RKDA 18 0.42 -6.2% -54.1% 21.2% 226.8% (370.5%) NM NM NM NM 0.1x
Segment Average 25.2% (5.6%) 2.8x 17.5x 47.0x 2.3x 11.2x
Segment Median 5.4% 15.1% 2.7x 13.9x 27.9x 2.2x 11.4x
Market Stats Operating Stats LTM Multiples NTM Multiples
Company Name SymbolMarket Cap
($ in Mil)Price ($)
Quarter
Change
YTD
Change
% of 52
Week High
Est.
Revenue
Growth
EBITDA
Margin
TEV/
Rev
TEV/
EBITDA
Price/
EPS
TEV/
NTM
Revenue
TEV/
NTM
EBITDA
Merck & Co., Inc. MRK 175,133$ 64.03$ -0.1% 8.8% 95.9% 3.3% 39.9% 4.7x 11.7x 34.6x 4.6x 11.4x
Zoetis, Inc. ZTS 31,293 63.76 2.2% 19.1% 96.9% 8.3% 35.1% 7.0x 20.2x 36.0x 6.5x 16.6x
Archer-Daniels-Midland Co. ADM 23,913 42.51 2.7% -6.9% 88.8% 4.3% 3.8% 0.5x 13.1x 18.0x 0.5x 9.1x
IDEXX Laboratories, Inc. IDXX 13,571 155.49 -3.7% 32.6% 89.9% 12.9% 27.2% 7.8x 31.8x 53.4x 7.1x 27.6x
Ingredion, Inc. INGR 8,648 120.64 1.2% -3.5% 87.7% 3.9% 18.3% 1.8x 9.6x 18.2x 1.7x 9.1x
The Mosaic Co. MOS 7,578 21.59 -5.4% -26.4% 62.8% 2.9% 15.2% 1.5x 10.7x 51.4x 1.5x 9.2x
Patterson Cos., Inc. PDCO 3,699 38.65 -17.7% -5.8% 78.5% 1.6% 6.0% 0.9x 9.7x 22.5x 0.8x 11.0x
Neogen Corp. NEOG 2,959 77.46 12.1% 17.4% 99.8% 11.8% 21.4% 7.5x 34.2x 65.1x 6.8x 29.9x
Darling Ingredients, Inc. DAR 2,886 17.52 11.3% 35.7% 93.9% 3.4% 12.2% 1.3x 10.7x 34.4x 1.3x 9.9x
Balchem Corp. BCPC 2,598 81.29 4.6% -3.1% 90.8% 6.5% 25.5% 5.0x 19.9x 42.1x 4.7x 18.6x
Central Garden & Pet Co. CENT 1,884 38.84 22.2% 17.4% 98.8% 4.7% 12.0% 1.2x 12.0x 29.4x 1.2x 11.4x
Omega Protein Corp. OME 374 16.65 -7.0% -33.5% 61.7% (0.2%) 19.9% 1.0x 4.5x 11.6x 1.0x 5.1x
Aemetis, Inc. AMTX 17 0.87 -34.6% -37.4% 34.8% 8.2% (1.2%) 1.0x 360.8x NM 0.9x 25.6x
Segment Average 5.5% 18.1% 3.2x 42.2x 34.7x 3.0x 15.0x
Segment Median 4.3% 18.3% 1.5x 12.0x 34.5x 1.5x 11.4x
Market Stats Operating Stats LTM Multiples NTM Multiples
Company Name SymbolMarket Cap
($ in Mil)Price ($)
Quarter
Change
YTD
Change
% of 52
Week High
Est.
Revenue
Growth
EBITDA
Margin
TEV/
Rev
TEV/
EBITDA
Price/
EPS
TEV/
NTM
Revenue
TEV/
NTM
EBITDA
Deere & Co. DE 40,171$ 125.59$ 1.6% 21.9% 94.8% (1.2%) 21.6% 2.5x 13.4x 20.9x 2.6x 19.6x
CNH Industrial NV CNHI 16,383 12.01 5.5% 38.2% 99.0% 2.8% 11.0% 1.4x 14.4x 57.2x 1.4x 14.1x
The Toro Co. TTC 6,688 62.06 -10.4% 10.9% 84.0% 6.2% 16.0% 2.7x 15.6x 26.2x 2.6x 14.9x
AGCO Corp. AGCO 5,861 73.77 9.5% 27.5% 99.2% 8.1% 10.1% 1.0x 12.4x 32.4x 0.9x 10.3x
Valmont Industries, Inc. VMI 3,572 158.10 5.7% 12.2% 95.7% 6.0% 13.9% 1.4x 10.8x 19.6x 1.4x 9.9x
Raven Industries, Inc. RAVN 1,170 32.40 -2.7% 28.6% 86.6% 11.1% 17.6% 3.5x 19.0x 38.6x 3.2x 15.2x
Advanced Drainage Systems, Inc. WMS 1,119 20.25 0.7% -1.7% 77.0% 5.2% 14.8% 1.5x 12.3x 41.3x 1.5x 9.1x
Alamo Group, Inc. ALG 1,248 107.37 18.2% 41.1% 99.6% 4.9% 10.5% 1.6x 14.1x 27.6x 1.5x 13.1x
Lindsay Corp. LNN 977 91.90 3.0% 23.2% 96.7% 7.1% 12.0% 1.9x 17.2x 42.4x 1.8x 13.7x
Titan International, Inc. TWI 606 10.15 -15.5% -9.5% 71.3% 8.5% 5.2% 0.8x 26.4x NM 0.7x 11.0x
Ag Growth International, Inc. AFN-CA 684 42.58 -7.7% 1.4% 90.0% 30.9% 15.1% 2.1x 14.4x NM 1.9x 11.2x
Titan Machinery, Inc. TITN 342 15.53 -13.6% 6.6% 80.8% (4.1%) 3.1% 0.6x 26.1x NM 0.6x 21.9x
Rocky Mountain Dealerships, Inc. RME-CA 172 8.88 11.6% 14.6% 94.3% 7.2% 5.4% 0.6x 11.8x 13.5x 0.5x 12.2x
Cervus Equipment Corp. CERV-CA 176 11.11 25.6% -12.3% 88.6% 4.9% 4.4% 0.3x 8.3x 8.8x 0.3x 7.5x
Paul Mueller Co. MUEL 44 34.00 14.3% 22.3% 97.1% NM 6.6% 0.4x 33.4x NM NM NM
Bion Environmental Technologies, Inc. BNET 19 0.80 -12.6% 6.0% 72.9% NM NM NM NM NM NM NM
Art's-Way Manufacturing Co., Inc. ARTW 10 2.30 -22.0% -32.3% 49.0% NM 4.3% 0.8x NM NM NM NM
Tytan Holdings, Inc. TYTN 0 0.00 -11.0% 161.8% 63.6% NM NM NM NM NM NM NM
Segment Average 7.0% 10.7% 1.4x 16.6x 29.9x 1.5x 13.1x
Segment Median 6.1% 10.7% 1.4x 14.4x 27.6x 1.4x 12.6x
Market Stats Operating Stats LTM Multiples NTM Multiples
Company Name SymbolMarket Cap
($ in Mil)Price ($)
Quarter
Change
YTD
Change
% of 52
Week High
Est.
Revenue
Growth
EBITDA
Margin
TEV/
Rev
TEV/
EBITDA
Price/
EPS
TEV/
NTM
Revenue
TEV/
NTM
EBITDA
Agrium, Inc. AGU 14,774$ 107.21$ 18.5% 6.6% 95.8% 8.8% 15.9% 1.5x 12.1x 26.9x 1.4x 10.4x
Tractor Supply Co. TSCO 8,019 63.29 16.7% -16.5% 80.9% 7.6% 14.8% 1.2x 9.9x 19.1x 1.1x 9.7x
Scotts Miracle-Gro Co. SMG 5,686 97.34 8.8% 1.9% 97.4% (4.3%) 24.5% 2.5x 13.9x 16.1x 2.7x 13.1x
The Andersons, Inc. ANDE 971 34.25 0.3% -23.4% 76.3% 4.4% 8.6% 0.4x 8.3x NM 0.4x 8.2x
Segment Average 4.1% 15.9% 1.4x 11.0x 20.7x 1.4x 10.3x
Segment Median 6.0% 15.4% 1.3x 11.0x 19.1x 1.3x 10.0x
Market Stats Operating Stats LTM Multiples NTM Multiples
Company Name SymbolMarket Cap
($ in Mil)Price ($)
Quarter
Change
YTD
Change
% of 52
Week High
Est.
Revenue
Growth
EBITDA
Margin
TEV/
Rev
TEV/
EBITDA
Price/
EPS
TEV/
NTM
Revenue
TEV/
NTM
EBITDA
IDEXX Laboratories, Inc. IDXX 13,571$ 155.49$ -3.7% 32.6% 89.9% 12.9% 27.2% 7.8x 31.8x 53.4x 7.1x 27.6x
Raven Industries, Inc. RAVN 1,170 32.40 -2.7% 28.6% 86.6% 11.1% 17.6% 3.5x 19.0x 38.6x 3.2x 15.2x
Iteris, Inc. ITI 217 6.65 6.9% 82.7% 96.3% 12.2% (0.8%) 2.0x NM NM 1.8x 143.2x
Marrone Bio Innovations, Inc. MBII 36 1.15 -10.9% -46.3% 41.2% 126.8% (74.2%) 5.1x NM NM 2.2x NM
Origin Agritech Ltd. SEED 38 1.64 14.7% -30.5% 57.1% NM NM 1.6x NM NM NM NM
Bion Environmental Technologies, Inc. BNET 19 0.80 -12.6% 6.0% 72.9% NM NM NM NM NM NM NM
Arcadia Biosciences, Inc. RKDA 18 0.42 -6.2% -54.1% 21.2% 226.8% (370.5%) NM NM NM NM 0.1x
Segment Average 78.0% (80.1%) 4.0x 25.4x 46.0x 3.6x 46.5x
Segment Median 12.9% (0.8%) 3.5x 25.4x 46.0x 2.7x 21.4x
Market Stats Operating Stats LTM Multiples NTM Multiples
Company Name SymbolMarket Cap
($ in Mil)Price ($)
Quarter
Change
YTD
Change
% of 52
Week High
Est.
Revenue
Growth
EBITDA
Margin
TEV/
Rev
TEV/
EBITDA
Price/
EPS
TEV/
NTM
Revenue
TEV/
NTM
EBITDA
Archer-Daniels-Midland Co. ADM 23,913$ 42.51$ 2.7% -6.9% 88.8% 4.3% 3.8% 0.5x 13.1x 18.0x 0.5x 9.1x
Bunge Ltd. BG 9,766 69.46 -6.9% -3.8% 82.9% 5.3% 1.5% 0.3x 37.2x 20.8x 0.3x 8.0x
FMC Corp. FMC 11,979 89.31 22.3% 57.9% 95.6% 19.4% 18.8% 4.7x 20.4x 263.5x 3.5x 13.7x
Ingredion, Inc. INGR 8,648 120.64 1.2% -3.5% 87.7% 3.9% 18.3% 1.8x 9.6x 18.2x 1.7x 9.1x
Sensient Technologies Corp. SXT 3,374 76.92 -4.5% -2.1% 90.5% 5.6% 19.1% 2.9x 14.7x 30.9x 2.8x 14.1x
Darling Ingredients, Inc. DAR 2,886 17.52 11.3% 35.7% 93.9% 3.4% 12.2% 1.3x 10.7x 34.4x 1.3x 9.9x
SUNOPTA INCORPORATED SOY 748 8.64 -18.1% 13.0% 84.7% (3.1%) 5.4% NM NM NM NM NM
Feronia, Inc. FRN-CA 56 0.16 -4.7% 12.8% 61.3% NM (17.4%) 5.4x NM NM NM NM
Aemetis, Inc. AMTX 17 0.87 -34.6% -37.4% 34.8% 8.2% (1.2%) 1.0x 360.8x NM 0.9x 25.6x
TerraVia Holdings, Inc. TVIA 1 0.01 -97.8% -99.6% 0.2% NM NM 5.7x NM NM NM NM
Segment Average 5.9% 6.7% 2.6x 66.6x 64.3x 1.6x 12.8x
Segment Median 4.8% 5.4% 1.8x 14.7x 25.8x 1.3x 9.9x
Market Stats Operating Stats LTM Multiples NTM Multiples
Company Name SymbolMarket Cap
($ in Mil)Price ($)
Quarter
Change
YTD
Change
% of 52
Week High
Est.
Revenue
Growth
EBITDA
Margin
TEV/
Rev
TEV/
EBITDA
Price/
EPS
TEV/
NTM
Revenue
TEV/
NTM
EBITDA
Nomad Foods Ltd. NOMD 2,511$ 14.57$ 3.3% 52.2% 94.1% 9.6% 17.1% 1.8x 11.0x 35.2x 1.7x 9.6x
Dean Foods Co. DF 989 10.88 -36.0% -50.0% 48.8% (2.4%) 4.9% 0.2x 5.1x 17.7x 0.2x 5.2x
Lifeway Foods, Inc. LWAY 143 8.90 -4.7% -22.7% 48.2% 7.0% 8.4% 1.1x 21.6x 89.0x 1.1x NM
Segment Average 4.7% 10.1% 1.1x 12.6x 47.3x 1.0x 7.4x
Segment Median 7.0% 8.4% 1.1x 11.0x 35.2x 1.1x 7.4x
Market Stats Operating Stats LTM Multiples NTM Multiples
Company Name SymbolMarket Cap
($ in Mil)Price ($)
Quarter
Change
YTD
Change
% of 52
Week High
Est.
Revenue
Growth
EBITDA
Margin
TEV/
Rev
TEV/
EBITDA
Price/
EPS
TEV/
NTM
Revenue
TEV/
NTM
EBITDA
Fresh Del Monte Produce, Inc. FDP 2,278$ 45.46$ -10.7% -25.0% 68.0% 4.7% 8.8% 0.6x 8.8x 14.4x 0.6x 7.9x
Nomad Foods Ltd. NOMD 2,511 14.57 3.3% 52.2% 94.1% 9.6% 17.1% 1.8x 11.0x 35.2x 1.7x 9.6x
Calavo Growers, Inc. CVGW 1,283 73.20 6.0% 19.2% 95.3% 21.1% 5.0% 1.3x 19.8x 35.4x 1.0x 15.3x
Alico, Inc. ALCO 282 34.15 9.1% 25.8% 98.1% NM 29.2% 3.6x 14.0x 46.1x NM NM
Limoneira Co. LMNR 334 23.17 -1.9% 7.7% 94.6% 2.6% 36.6% 3.6x 20.4x 38.0x 3.6x 18.2x
Segment Average 9.5% 19.4% 2.2x 14.8x 33.8x 1.7x 12.7x
Segment Median 7.1% 17.1% 1.8x 14.0x 35.4x 1.4x 12.4x
Market Stats Operating Stats LTM Multiples NTM Multiples
Company Name SymbolMarket Cap
($ in Mil)Price ($)
Quarter
Change
YTD
Change
% of 52
Week High
Est.
Revenue
Growth
EBITDA
Margin
TEV/
Rev
TEV/
EBITDA
Price/
EPS
TEV/
NTM
Revenue
TEV/
NTM
EBITDA
Hormel Foods Corp. HRL 16,964$ 32.14$ -5.8% -7.7% 82.7% 2.5% 13.9% 1.8x 11.8x 19.8x 1.8x 11.6x
Tyson Foods, Inc. TSN 20,379 70.45 12.5% 14.2% 93.2% 8.2% 9.6% 1.0x 9.6x 14.5x 0.9x 8.6x
Pilgrim's Pride Corp. PPC 7,067 28.41 29.6% 49.6% 95.1% 18.0% 19.0% 1.0x 7.7x 14.3x 0.8x 6.5x
Seaboard Corp. SEB 5,275 4,505.00 12.8% 14.0% 99.0% NM 5.9% 0.8x 12.2x 16.4x NM NM
Prestige Brands Holdings, Inc. PBH 2,655 50.09 -5.2% -3.9% 84.0% 14.2% 34.1% 5.1x 15.0x 24.7x 4.5x 13.1x
Sanderson Farms, Inc. SAFM 3,674 161.52 39.7% 71.4% 97.6% 8.4% 21.8% 1.0x 6.2x 13.0x 0.9x 6.5x
Cal-Maine Foods, Inc. CALM 1,799 41.10 3.8% -7.0% 89.1% 16.2% (4.3%) 1.7x NM NM 1.5x 20.0x
Pingtan Marine Enterprise Ltd. PME 228 2.88 -27.1% 65.5% 55.6% NM 33.2% 5.1x 25.7x 15.2x NM NM
Aoxin Tianli Group, Inc. ABAC 19 2.37 12.9% -34.5% 58.2% NM 12.2% NM NM NM NM NM
Segment Average 11.3% 16.2% 2.2x 12.6x 16.8x 1.7x 11.0x
Segment Median 11.3% 13.9% 1.4x 11.8x 15.2x 1.2x 10.1x
Market Stats Operating Stats LTM Multiples NTM Multiples
Date Target Buyer(s) SegmentAmount
($ in Mil)
TEV/
Rev
TEV/
EBITDA
9/28/2017 Village Nurseries Wholesale LLC TreeSap Farms LLC Agriproducts Distribution - - -
9/25/2017 OHP, Inc. AMVAC Chemical Corp. Crop/ Turf/ Ornamental Inputs - - -
9/25/2017 Sutton James, Inc. Optisure Risk Partners LLC Agricultural Tech & Services - - -
9/19/2017 Leadbetter Foods, Inc. Premium Brands Holdings Corp. Proteins - - -
9/19/2017 Eqova Life Sciences, Inc. Grey Cloak Tech, Inc. Oilseeds & Ingredients - - -
9/14/2017 Mountain Dog Enterprises, Inc. Dane Creek Capital Corp. Animal Health & Nutrition - - -
9/13/2017 Delisle Agencies Ltd. HarbourVest Partners LLC Agricultural Tech & Services - - -
9/11/2017 Black Hills Estate Winery Andrew Peller Ltd. Produce - - -
9/6/2017 Blue River Technology, Inc. Deere & Co. Machinery & Equipment 305.00 - -
8/31/2017 Southeast Milk, Inc. (Dairy Product Business) Saputo, Inc. Dairy - - -
8/30/2017 Bartley Pump, Inc. Soundcore Capital Partners LLC Machinery & Equipment - - -
8/29/2017 Southern States Cooperative, Inc. (Ag-Retail Bus) Agrium, Inc. Crop/ Turf/ Ornamental Inputs - - -
8/28/2017 Hewitt Equipment Ltd. Toromont Industries Ltd. Machinery & Equipment 815.24 1.02x -
8/28/2017 Merritt Veterinary Supplies, Inc. Henry Schein, Inc. Animal Health & Nutrition 89.00 0.77x -
8/25/2017 Fells Point Wholesale Meats, Inc. The Chefs' Warehouse, Inc. Proteins 45.16 - -
8/17/2017 Pepper Joe's Clickstop, Inc. Crop/ Turf/ Ornamental Inputs - - -
8/14/2017 Kansas City Sausage Co. LLC Smithfield Foods, Inc. Proteins - - -
8/9/2017 Danvers Farmers Elevator Co., Inc. (Agronomy Bus) United Prairie LLC Crop/ Turf/ Ornamental Inputs - - -
8/8/2017 Star Route Farms LLC University of San Francisco Produce 10.40 - -
8/3/2017 Southern States Cooperative, Inc. (Animal Feed
Business)
Cargill, Inc. Crop/ Turf/ Ornamental Inputs - - -
8/2/2017 TerraVia Holdings, Inc. Corbion NV Animal Health & Nutrition 154.58 11.78x -2.73x
8/1/2017 Stratum Nutrition ESM Technologies LLC Animal Health & Nutrition - - -
7/27/2017 Daiya Foods, Inc. Otsuka Pharmaceutical Co., Ltd. Dairy 323.11 - -
7/25/2017 MainSource Financial Group, Inc. First Financial Bancorp (Ohio) Agricultural Tech & Services 1,432.24 7.28x -
7/25/2017 Chaney Enterprises LP (Soils Production Operation) Luck Ecosystems Crop/ Turf/ Ornamental Inputs - - -
7/25/2017 Ascenta Health Ltd. (Non-Manufacturing Pet Assets) Dane Creek Capital Corp. Animal Health & Nutrition - - -
7/20/2017 Creekstone Farms Premium Beef LLC Marubeni Corp. Proteins 170.00 - -
7/20/2017 Kuss Filtration, Inc. GVS SpA Machinery & Equipment - - -
7/20/2017 Cornerstone Chemical Co. Littlejohn & Co. LLC Crop/ Turf/ Ornamental Inputs - - -
7/19/2017 Costa Farms LLC Markel Corp. Crop/ Turf/ Ornamental Inputs 314.81 - -
7/19/2017 Ceresolutions LP Freeman Spogli Management Co. LP Crop/ Turf/ Ornamental Inputs - - -
7/17/2017 Albertville Quality Foods, Inc. O.K. Foods, Inc. Proteins - - -
7/14/2017 JBS Food Canada Inc (Cattle Feeding Business) MCF Holdings Ltd (Canada) Proteins 39.23 - -
7/13/2017 Westbrook Greenhouses Ltd. (Greenhouse Facility) UP Cannabis, Inc. Diversified Agribusiness 5.69 - -
7/10/2017 Central Illinois Grain Inspection, Inc. SGS SA Agricultural Tech & Services - - -
7/6/2017 Olson Irrigation Systems AEA Investors LP Machinery & Equipment - - -
7/3/2017 Stonyfield Farm, Inc. Groupe Lactalis SA Dairy 875.00 - -
7/3/2017 A&C United Agriculture Developing, Inc. A&C United Agriculture Developing, Inc. (Foo) Crop/ Turf/ Ornamental Inputs - - -