March 31, 2010
CPC Europe Fund II Announces Kettle Foods Sale
Carson Private Capital Europe Fund II, LP announced the sale of Kettle Foods to Diamond Foods (NASDAQ: DMND) by Lion Capital in a cash transaction valued at $615 million equal to 10.4x CY2009 EBITDA.
CPC Europe Fund II participated in the privately negotiated $270 million (9.5x 2006 EBITDA) acquisition of Kettle Foods by Lion Capital in September 2006.
During Lion Capital's ownership, Kettle Foods dramatically increased strategic value through category-leading innovation and penetration gains in the U.S. and UK snacking markets, resulting in sales increasing by over 60% and EBITDA increasing by over 100%.
|
 |
|
|
