Agribusiness Report Q1 2018 · 3/20/2018 Ô TreeSap Farms LLC (Village Nurseries) 2/12/2018 Ô...

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https://www.heritagetractor.com/

https://www.larsonjd.com/

https://rdoequipment.com/

https://www.evergreen-implement.com/

http://www.nutrien.com/

http://www.agrichem.com.au/

http://www.omnia.co.za/

http://www.oroagri.com/

http://www.american-securities.com/

http://www.princecorp.com/

http://www.bioadaptives.com/

https://www.vaxxinova.com/

http://www.epitopix.com/

http://www.huvepharma.com/

https://www.agrilabs.com/

Date Target Buyer(s) SegmentAmount

($ in Mil)

TEV/

Rev

TEV/

EBITDA03/15/2018 The Meat Factory Ltd. Premium Brands Holdings Corp. Proteins - - -

03/15/2018 Country Prime Meats Ltd. Premium Brands Holdings Corp. Proteins - - -

03/14/2018 Tri-County Farmers Equipment H&R Agri-Power Machinery & Equipment - - -

03/14/2018 Bell Nursery Holdings LLC Central Garden & Pet Co. Crop/ Turf/ Ornamental Inputs - - -

03/02/2018 King Agro Deere & Co. Machinery & Equipment - - -

02/26/2018 Spectrum Brands Holdings, Inc. HRG Group, Inc. Crop/ Turf/ Ornamental Inputs 4,761.70 1.07x 6.43x

02/23/2018 Blue Buffalo Pet Products, Inc. General Mills, Inc. Animal Health & Nutrition 7,935.09 6.23x 25.29x

02/12/2018 Atlantic Irrigation Specialties, Inc. SiteOne Landscape Supply, Inc. Machinery & Equipment - - -

02/07/2018 Terra Nitrogen Co. LP Terra Nitrogen GP, Inc. Crop/ Turf/ Ornamental Inputs 1,475.16 3.71x 7.70x

02/06/2018 Mann Packing Co., Inc. Del Monte Fresh Produce N.A., Inc. Produce 361.00 0.67x -

02/01/2018 Dole Food Co., Inc. Total Produce Plc Produce 666.67 0.15x 2.81x

01/30/2018 Minsa Corp. Bunge North America, Inc. Oilseeds & Ingredients 75.00 - -

01/17/2018 JBS Five Rivers Cattle Feeding LLC Ospraie Management LLC Proteins 200.00 - -

1

10 11

12

1

8

3

7 6

2

- 2 4 6 8

10 12 14

Strategic95%

Financial5%


Financial Buyer Inv. Date Select Corporate Acquisitions3/29/2018 ▪ Prince International Corp. (Texas)

6/27/2016 ▪ Milk Specialties Company

12/10/2015 ▪ Blount International Inc.

Dane Creek Capital Corp. 1/31/2018 ▪ Pets 4 Life

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.

6/7/2017 ▪ BeetNPath, LLC8/24/2016 ▪ Hip Chick Farms, Inc.6/23/2016 ▪ Pacific Ag

2/18/2016 ▪ American Botanicals LLC

2/4/2016 ▪ Hortau Inc.

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.

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

American Securities

Advantage Capital Partners

Warburg Pincus LLC

Strategic Buyer Inv. Date Select Corporate Acquisitions3/20/2018 ▪ TreeSap Farms LLC (Village Nurseries)

2/12/2018 ▪ Atlantic Irrigation Specialties, Inc.

10/17/2017 ▪ Harmony Gardens, Inc.

5/25/2017 ▪ 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

3/15/2018 ▪ Concord Premium Meats Ltd.

3/15/2018 ▪ The Meat Factory Ltd.

3/15/2018 ▪ Country Prime Meats Ltd.

9/19/2017 ▪ Leadbetter Foods, Inc.

2/2/2017 ▪ Interprovincial Meat Sales Ltd.

1/2/2018 ▪ Pro-Pet LLC

10/24/2017 ▪ DV Technologies, Inc. (Iowa)

8/3/2017 ▪ Southern States Cooperative, Inc. (Animal Feed Business)

6/1/2016 ▪ Five Star Custom Foods, Ltd.

2/2/2016 ▪ Calysta, Inc.

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.

Cargill, Inc.

Ag Growth International Inc.

The Davey Tree Expert Company

Premium Brands Holdings Corp.


-10%

0%

10%

20%

30%

40%

50%

60%

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 24,238$ 43.37$ 8.2% 8.2% 93.6% 3.1% 4.3% 0.5x 14.8x 15.5x 0.5x 9.1x

Bunge Ltd. BG 10,418 73.94 10.2% 10.2% 88.3% 5.1% 1.8% 0.3x 35.9x 83.1x 0.3x 8.5x

Seaboard Corp. SEB 4,994 4,265.00 -3.3% -3.3% 90.9% NM 5.0% 0.7x 11.0x 20.2x NM NM

The Andersons, Inc. ANDE 943 33.10 6.3% 6.3% 84.1% (1.2%) 2.9% 0.4x 11.5x 22.1x 0.4x 8.3x

Limoneira Co. LMNR 345 23.73 5.9% 5.9% 91.1% (2.0%) 0.0% 3.8x 23.4x 20.5x 3.9x 19.0x

Alico, Inc. ALCO 224 27.20 -7.8% -7.8% 78.2% NM 1.1% 3.2x 26.5x NM NM NM

Segment Average 1.2% 2.5% 1.5x 20.5x 32.3x 1.3x 11.2x

Segment Median 1.0% 2.3% 0.6x 19.1x 20.5x 0.4x 8.8x

Market Stats Operating Stats LTM Multiples NTM Multiples

*



($ 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 148,186$ 63.71$ -10.5% -10.5% 82.7% 35.9% 7.3% 2.7x 16.5x 70.0x 1.5x 6.5x

Monsanto Co. MON 51,437 116.69 -0.1% -0.1% 94.0% 7.6% 42.3% 3.9x 13.9x 20.9x 3.7x 12.2x

Nutrien Ltd. NTR 30,392 47.26 NA NA 84.1% NM NM NM NM NM 1.6x 8.1x


FMC Corp. FMC 10,297 76.57 -19.1% -19.1% 77.6% 58.9% 21.6% 4.6x 20.8x NM 2.9x 10.5x

The Mosaic Co. MOS 9,353 24.28 -5.4% -5.4% 82.1% 17.6% 15.4% 1.7x 10.2x NM 1.3x 6.9x

CF Industries Holdings, Inc. CF 8,805 37.73 -11.3% -11.3% 83.8% 8.2% 29.9% 3.8x 13.3x 24.7x 3.5x 10.8x

Scotts Miracle-Gro Co. SMG 4,881 85.75 -19.9% -19.9% 77.9% 4.4% (16.0%) 2.3x 12.5x 22.5x 2.4x 12.0x

Platform Specialty Products Corp. PAH 2,774 9.63 -2.9% -2.9% 65.0% 5.2% 18.4% 2.1x 10.3x NM 2.0x 8.7x

Compass Minerals International, Inc. CMP 2,040 60.30 -16.5% -16.5% 78.7% 13.0% 24.9% 2.5x 11.9x 48.2x 2.2x 9.9x

Central Garden & Pet Co. CENT 2,031 43.00 10.5% 10.5% 99.4% 2.7% 7.6% 1.3x 12.8x 23.0x 1.2x 12.0x

Terra Nitrogen Co. LP TNH 1,553 83.96 5.2% 5.2% 85.0% NM 47.5% 3.9x 8.0x 14.1x NM NM


American Vanguard Corp. AVD 603 20.20 2.8% 2.8% 84.2% 33.2% 11.3% 1.9x 15.0x 29.7x 1.4x 11.0x

Intrepid Potash, Inc. IPI 475 3.64 -23.5% -23.5% 71.1% (7.7%) 11.5% 3.4x 30.1x NM 3.3x 8.9x

AgroFresh Solutions, Inc. AGFS 374 7.35 -0.7% -0.7% 81.2% NM 40.7% 4.5x 12.8x 15.6x NM NM

CVR Partners LP UAN 368 3.25 -0.9% -0.9% 64.0% 17.5% 10.6% 2.9x 14.6x NM 2.4x 8.6x

Marrone Bio Innovations, Inc. MBII 204 2.00 81.8% 81.8% 82.6% 61.7% (137.6%) 6.9x NM NM 4.1x NM

S&W Seed Co. SANW 88 3.60 -7.7% -7.7% 69.2% 11.6% 7.0% 1.8x NM NM 1.4x 23.2x

Arcadia Biosciences, Inc. RKDA 59 24.01 336.5% 336.5% 36.1% NM (205.6%) 9.5x NM NM NM NM

China Green Agriculture, Inc. CGA 49 1.26 1.6% 1.6% 59.7% NM 17.9% NM NM 1.9x NM NM

Origin Agritech Ltd. SEED 18 0.77 -9.4% -9.4% 32.8% NM NM NM NM NM NM NM

Segment Average 17.1% (2.0%) 3.2x 15.6x 31.3x 2.1x 10.4x




($ 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 146,672$ 54.47$ -3.2% -3.2% 82.0% 4.7% 31.6% 4.1x 12.9x 62.6x 4.0x 10.7x

Zoetis, Inc. ZTS 40,693 83.51 15.9% 15.9% 97.4% 9.4% 39.2% 8.3x 22.2x 47.7x 7.7x 19.4x

Archer-Daniels-Midland Co. ADM 24,238 43.37 8.2% 8.2% 93.6% 3.1% 4.3% 0.5x 14.8x 15.5x 0.5x 9.1x

IDEXX Laboratories, Inc. IDXX 16,674 191.39 22.4% 22.4% 92.4% 15.6% 23.8% 8.9x 35.3x 65.1x 7.9x 29.7x

The Mosaic Co. MOS 9,353 24.28 -5.4% -5.4% 82.1% 17.6% 15.4% 1.7x 10.2x NM 1.3x 6.9x

Ingredion, Inc. INGR 9,313 128.92 -7.8% -7.8% 88.1% 2.5% 18.4% 1.8x 9.7x 18.3x 1.8x 9.3x

Neogen Corp. NEOG 3,451 66.99 8.7% 8.7% 98.8% 10.7% 21.2% 8.3x 37.9x 59.8x 7.6x 33.8x

Darling Ingredients, Inc. DAR 2,850 17.30 -4.6% -4.6% 88.7% 2.5% 11.5% 1.2x 10.6x 22.5x 1.2x 9.8x

Balchem Corp. BCPC 2,619 81.75 1.4% 1.4% 92.4% 6.5% 23.6% 4.7x 19.5x 29.3x 4.4x 17.8x

Patterson Cos., Inc. PDCO 2,104 22.23 -38.5% -38.5% 46.0% (0.1%) 5.2% 0.6x 7.1x 8.6x 0.6x 9.6x

Central Garden & Pet Co. CENT 2,031 43.00 10.5% 10.5% 99.4% 2.7% 7.6% 1.3x 12.8x 23.0x 1.2x 12.0x

Aemetis, Inc. AMTX 34 1.70 209.1% 209.1% 54.5% 7.4% (5.1%) 1.3x NM NM 1.2x 26.7x






($ 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 50,291$ 155.32$ -0.8% -0.8% 88.6% 13.5% 20.4% 2.8x 14.2x 35.4x 2.5x 17.0x

CNH Industrial NV CNHI 16,900 12.40 -7.5% -7.5% 79.3% 6.8% 13.3% 1.3x 10.4x 56.4x 1.3x 13.7x

The Toro Co. TTC 6,621 62.45 -4.3% -4.3% 84.6% 6.2% 15.1% 2.6x 15.8x 28.3x 2.6x 14.7x

AGCO Corp. AGCO 5,159 64.85 -9.2% -9.2% 85.4% 11.2% 21.7% 0.8x 9.5x 28.0x 0.7x 8.0x

Valmont Industries, Inc. VMI 3,322 146.30 -11.8% -11.8% 83.0% 7.4% 11.9% 1.3x 10.3x 28.6x 1.2x 9.4x

Advanced Drainage Systems, Inc. WMS 1,457 25.90 8.6% 8.6% 92.0% 4.1% 14.6% 1.6x 13.4x 33.6x 1.5x 9.7x

Alamo Group, Inc. ALG 1,280 109.90 -2.6% -2.6% 91.1% 8.3% 10.7% 1.4x 12.0x 29.0x 1.3x 10.9x

Raven Industries, Inc. RAVN 1,255 35.05 2.0% 2.0% 85.8% 10.4% 15.9% 3.2x 16.4x 31.0x 3.0x 13.6x

Lindsay Corp. LNN 984 91.44 3.7% 3.7% 91.1% 8.3% 10.5% 1.9x 16.2x 44.0x 1.7x 13.5x

Titan International, Inc. TWI 754 12.61 -2.1% -2.1% 86.8% 12.6% 5.1% 0.8x 19.2x NM 0.7x 11.1x

Ag Growth International, Inc. AFN-CA 684 41.70 0.8% 0.8% 85.7% 15.9% 10.5% 1.9x 13.2x 24.5x 1.6x 9.6x

Titan Machinery, Inc. TITN 521 23.56 11.3% 11.3% 93.9% 0.3% 2.3% 0.7x 21.9x NM 0.6x 17.1x

Rocky Mountain Dealerships, Inc. RME-CA 189 9.51 -10.5% -10.5% 83.7% 7.8% 4.7% 0.6x 11.7x 10.5x 0.5x 11.8x

Cervus Equipment Corp. CERV-CA 166 10.63 -8.8% -8.8% 84.7% 2.7% 5.6% 0.3x 7.6x 10.9x 0.3x 7.4x

Paul Mueller Co. MUEL 44 34.21 -12.3% -12.3% 85.5% NM 5.9% 0.4x 5.3x NM NM NM

Bion Environmental Technologies, Inc. BNET 12 0.50 -21.9% -21.9% 49.0% NM NM NM NM NM NM NM

Art's-Way Manufacturing Co., Inc. ARTW 10 2.40 -19.6% -19.6% 64.0% NM (2.2%) 0.7x NM NM NM NM

Tytan Holdings, Inc. TYTN 0 0.00 -62.5% -62.5% 3.8% NM NM NM NM NM NM NM





($ 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

Nutrien Ltd. NTR 30,392 47.26 NA NA 84.1% NM NM NM NM NM 1.6x 8.1x

Tractor Supply Co. TSCO 7,807 63.02 -15.7% -15.7% 76.2% 8.3% 11.6% 1.1x 9.6x 19.1x 1.1x 9.6x

Scotts Miracle-Gro Co. SMG 4,881 85.75 -19.9% -19.9% 77.9% 4.4% (16.0%) 2.3x 12.5x 22.5x 2.4x 12.0x






($ 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 16,674$ 191.39$ 22.4% 22.4% 92.4% 15.6% 23.8% 8.9x 35.3x 65.1x 7.9x 29.7x

Raven Industries, Inc. RAVN 1,255 35.05 2.0% 2.0% 85.8% 10.4% 15.9% 3.2x 16.4x 31.0x 3.0x 13.6x

Marrone Bio Innovations, Inc. MBII 204 2.00 81.8% 81.8% 82.6% 61.7% (137.6%) 6.9x NM NM 4.1x NM

Iteris, Inc. ITI 164 4.96 -28.8% -28.8% 60.7% 6.5% (2.7%) 1.4x NM NM 1.4x NM

Arcadia Biosciences, Inc. RKDA 59 24.01 336.5% 336.5% 36.1% NM (205.6%) 9.5x NM NM NM NM

Origin Agritech Ltd. SEED 18 0.77 -9.4% -9.4% 32.8% NM NM NM NM NM NM NM

Bion Environmental Technologies, Inc. BNET 12 0.50 -21.9% -21.9% 49.0% NM NM NM NM NM NM NM


Segment Median 13.0% (2.7%) 6.9x 25.8x 48.1x 3.5x 21.6x



($ 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 2,738$ 15.74$ -6.9% -6.9% 90.9% 17.1% 15.4% 1.9x 11.3x 17.9x 1.6x 9.5x

Dean Foods Co. DF 787 8.62 -25.4% -25.4% 42.9% (7.9%) 4.2% 0.2x 5.2x 13.4x 0.2x 5.4x

Lifeway Foods, Inc. LWAY 96 5.99 -25.1% -25.1% 54.4% 7.2% (9.1%) 0.8x 37.6x NM 0.8x NM






($ 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

Sysco Corp. SYY 31,294 59.96 -1.3% -1.3% 93.3% 5.8% 5.1% 0.7x 12.8x 26.9x 0.7x 11.4x

US Foods Holding Corp. USFD 7,065 32.77 2.6% 2.6% 93.4% 4.8% 4.4% 0.4x 11.3x 16.6x 0.4x 9.6x

Nomad Foods Ltd. NOMD 2,738 15.74 -6.9% -6.9% 90.9% 17.1% 15.4% 1.9x 11.3x 17.9x 1.6x 9.5x

Fresh Del Monte Produce, Inc. FDP 2,197 45.24 -5.1% -5.1% 73.0% 13.8% 2.9% 0.6x 10.8x 18.9x 0.6x 9.0x

United Natural Foods, Inc. UNFI 2,165 42.94 -12.8% -12.8% 81.5% 8.6% 2.9% 0.3x 7.9x 14.0x 0.2x 7.4x

Calavo Growers, Inc. CVGW 1,617 92.20 9.2% 9.2% 96.3% 19.6% 5.6% 1.5x 22.3x 41.2x 1.3x 17.8x

SpartanNash Co. SPTN 620 17.21 -35.5% -35.5% 45.5% (0.1%) 2.1% 0.2x 6.3x NM 0.2x 6.0x

SunOpta, Inc. ¹ SOY-CA 618 7.13 -5.1% -5.1% 69.9% (2.4%) 2.8% 0.9x 18.0x NM 0.9x 12.7x

Landec Corp. LNDC 359 13.05 3.6% 3.6% 87.3% 1.5% 4.3% 0.8x 21.7x 17.2x 0.8x 15.7x

Limoneira Co. LMNR 345 23.73 5.9% 5.9% 91.1% (2.0%) 0.0% 3.8x 23.4x 20.5x 3.9x 19.0x

Seneca Foods Corp. SENEA 274 27.70 -9.9% -9.9% 72.6% NM 4.9% 0.5x 16.8x 66.0x NM NM

Alico, Inc. ALCO 224 27.20 -7.8% -7.8% 78.2% NM 1.1% 3.2x 26.5x NM NM NM

Village Farms International, Inc. ¹ VFF-CA 187 4.41 -25.7% -25.7% 56.1% (0.1%) 4.9% 1.4x 35.2x 44.1x 1.3x 20.3x





($ 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 24,238$ 43.37$ 8.2% 8.2% 93.6% 3.1% 4.3% 0.5x 14.8x 15.5x 0.5x 9.1x


FMC Corp. FMC 10,297 76.57 -19.1% -19.1% 77.6% 58.9% 21.6% 4.6x 20.8x NM 2.9x 10.5x

Ingredion, Inc. INGR 9,313 128.92 -7.8% -7.8% 88.1% 2.5% 18.4% 1.8x 9.7x 18.3x 1.8x 9.3x

Sensient Technologies Corp. SXT 3,018 70.58 -3.5% -3.5% 83.1% 5.5% 18.9% 2.7x 14.3x 34.8x 2.6x 12.8x

Darling Ingredients, Inc. DAR 2,850 17.30 -4.6% -4.6% 88.7% 2.5% 11.5% 1.2x 10.6x 22.5x 1.2x 9.8x

SUNOPTA INCORPORATED SOY 618 7.13 -5.1% -5.1% 69.9% (2.4%) 2.8% NM NM NM NM NM

Feronia, Inc. FRN-CA 109 0.22 -27.5% -27.5% 64.3% NM NM 8.7x NM NM NM NM

Aemetis, Inc. AMTX 34 1.70 209.1% 209.1% 54.5% 7.4% (5.1%) 1.3x NM NM 1.2x 26.7x





($ 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

Tyson Foods, Inc. TSN 21,781$ 73.19$ -9.7% -9.7% 86.5% 5.4% 11.7% 0.9x 8.7x 9.4x 0.9x 8.1x

Hormel Foods Corp. HRL 18,174 34.32 -5.7% -5.7% 90.3% 7.9% 13.8% 2.0x 14.2x 20.3x 1.9x 13.2x

Pilgrim's Pride Corp. PPC 6,122 24.61 -20.8% -20.8% 64.1% 3.4% 7.8% 0.8x 6.1x 8.8x 0.7x 6.0x

Seaboard Corp. SEB 4,994 4,265.00 -3.3% -3.3% 90.9% NM 5.0% 0.7x 11.0x 20.2x NM NM

Sanderson Farms, Inc. SAFM 2,718 119.02 -14.2% -14.2% 67.5% 2.4% 5.7% 0.7x 4.5x 8.8x 0.7x 5.8x

Cal-Maine Foods, Inc. CALM 1,913 43.70 -1.7% -1.7% 86.7% 8.2% 20.6% 1.4x 16.6x 71.6x 1.3x 10.3x

Prestige Brands Holdings, Inc. PBH 1,788 33.72 -24.1% -24.1% 56.5% 3.0% 33.9% 3.7x 11.0x 4.6x 3.6x 10.8x

Pingtan Marine Enterprise, Ltd. PME 237 3.00 -1.6% -1.6% 59.1% NM 48.8% 4.6x 14.3x 7.9x NM NM

Renmin Tianli Group, Inc. ABAC 18 2.28 -22.7% -22.7% 47.9% NM 20.0% NM NM 16.3x NM NM





5.5x 5.8x 5.9x6.4x6.4x 6.6x 6.5x 6.7x

7.5x 7.8x7.3x

8.3x7.5x

9.0x 9.0x 9.2x

0.0x

2.0x

4.0x

6.0x

8.0x

10.0x

2014 2015 2016 2017

$10-25mm $25-50mm $50-100mm $100-250mm



($ in Mil)

TEV/

Rev

TEV/

EBITDA03/29/2018 Prince International Corp. (Texas) American Securities LLC Animal Health & Nutrition - - -

03/23/2018 Larson Farm and Lawn Heritage Tractor Machinery & Equipment - - -

03/24/2018 Trinity Logistics Corp. Venanpri Group’s Agrisolutions

division

Machinery & Equipment - - -

03/22/2018 Cargill La Coop fédérée Crop/ Turf/ Ornamental

Inputs

- - -

03/22/2018 Philco Animal Health, Inc. BioAdaptives, Inc. Animal Health & Nutrition - - -

03/21/2018 Ag Vision Seeds Ltd. (Retail Business) Agrium, Inc. Crop/ Turf/ Ornamental

Inputs

- - -

03/20/2018 TreeSap Farms LLC (Village Nurseries) SiteOne Landscape Supply, Inc. Agriproducts Distribution - - -

03/15/2018 General Pet Supply, Inc. Central Garden & Pet Co. Animal Health & Nutrition - - -

03/15/2018 Concord Premium Meats Ltd. Premium Brands Holdings Corp. Proteins 94.2 - -

03/15/2018 Huron Produce Ltd. Lipman Produce, Inc. Produce - - -

03/15/2018 The Meat Factory Ltd. Premium Brands Holdings Corp. Proteins - - -

03/15/2018 Country Prime Meats Ltd. Premium Brands Holdings Corp. Proteins - - -

03/14/2018 Tri-County Farmers Equipment H&R Agri-Power Machinery & Equipment - - -

03/14/2018 Bell Nursery Holdings LLC Central Garden & Pet Co. Crop/ Turf/ Ornamental

Inputs

- - -

03/14/2018 MPT Mustard Products & Technologies, Inc. Duport Capital Ltd. Agricultural Tech & Services - - -

03/13/2018 Spensa Technologies, Inc. DTN LLC Agricultural Tech & Services - - -

03/07/2018 Prairie Mushrooms (2010) Ltd. Highline Produce Ltd. Produce - - -

03/01/2018 Oro Agri SEZC Ltd. Omnia Holdings Limited Crop/ Turf/ Ornamental

Inputs

96.0 - -

03/02/2018 King Agro Deere & Co. Machinery & Equipment - - -

03/02/2018 Epitopix LLC Vaxxinova GmbH Animal Health & Nutrition - - -

03/01/2018 HyComp LLC Saint Gobain Performance Plastics

Corp.

Machinery & Equipment - - -

02/28/2018 Royal Hawaiian Macadamia Nut, Inc. Buderim Group Ltd. Produce 23.6 - -

02/28/2018 Yuengling's Ice Cream Corp. Seguin Natural Hair Products, Inc. Dairy - - -

02/26/2018 Evergreen Implement RDO Equipment Co. Machinery & Equipment - - -

02/26/2018 Spectrum Brands Holdings, Inc. HRG Group, Inc. Crop/ Turf/ Ornamental

Inputs

4,761.7 1.1x 6.4x

02/23/2018 Blue Buffalo Pet Products, Inc. General Mills, Inc. Animal Health & Nutrition 7,935.1 6.2x 25.3x

02/22/2018 Transform Pack, Inc. Viscofán SA Oilseeds & Ingredients 2.0 - -

02/22/2018 Braaitime LLC Stryve Foods LLC Proteins - - -

02/21/2018 NutraDried LLP EnWave Corp. Dairy 3.7 0.6x -

03/24/2018 Horizon Equipment Ag-Power, Inc. Machinery & Equipment - - -

02/14/2018 FarmShots, Inc. Syngenta Corp. Agricultural Tech & Services - - -

02/12/2018 Nutriad Bluestar Adisseo Co. Animal Health & Nutrition - - -

02/12/2018 Atlantic Irrigation Specialties, Inc. SiteOne Landscape Supply, Inc. Machinery & Equipment - - -

02/12/2018 Taylor Orchard Properties LLC Lane Southern Orchards Produce - - -

02/07/2018 Yearwood Equipment Co. H&R Agri-Power Machinery & Equipment - - -

02/07/2018 Terra Nitrogen Co. LP Terra Nitrogen GP, Inc. Crop/ Turf/ Ornamental

Inputs

1,475.2 3.7x 7.7x

02/06/2018 Mann Packing Co., Inc. Del Monte Fresh Produce N.A., Inc. Produce 361.0 0.7x -

02/05/2018 Site-Specific Technology Development Group, Inc. Proagrica Agricultural Tech & Services - - -

02/02/2018 Atoka Cranberries, Inc. Ocean Spray Cranberries, Inc. Produce - - -

02/02/2018 Valley Vineyard & Orchard Supply, Inc. Clearview Capital LLC Machinery & Equipment - - -

02/01/2018 Dole Food Co., Inc. Total Produce Plc Produce 666.7 0.1x 2.8x

02/01/2018 HMA Land Services Ltd. Vertex Resource Group Ltd. Agricultural Tech & Services - - -

01/31/2018 Pets 4 Life Dane Creek Capital Corp. Animal Health & Nutrition - - -

01/30/2018 Minsa Corp. Bunge North America, Inc. Oilseeds & Ingredients 75.0 - -



($ in Mil)

TEV/

Rev

TEV/

EBITDA01/30/2018 Biltong USA Stryve Foods LLC Proteins - - -

01/29/2018 Agrichem Nutrien Ltd. Crop/ Turf/ Ornamental

Inputs

- - -

01/26/2018 Maxfield Group, Inc. (CA) TerraVest Capital, Inc. Machinery & Equipment 17.1 - -

01/25/2018 AgriLabs Huvepharma Animal Health & Nutrition - - -

01/19/2018 Am-Ag LLC Sigma AgriScience LLC Crop/ Turf/ Ornamental

Inputs

- - -

01/17/2018 JBS Five Rivers Cattle Feeding LLC Ospraie Management LLC Proteins 200.0 - -

01/16/2018 SkySquirrel Technologies, Inc. VineView SAI, Inc. Agricultural Tech & Services - - -

01/11/2018 Nautilus Bionsciences Canada, Inc. Croda International Plc Agricultural Tech & Services - - -

01/08/2018 Radiant Genomics, Inc. Zymergen, Inc. Agricultural Tech & Services - - -

01/05/2018 The Agronomy Group LLC Vegalab, Inc. Crop/ Turf/ Ornamental

Inputs

1.6 - -

01/05/2018 The Icelandic Milk & Skyr Corp. Groupe Lactalis SA Dairy - - -

01/05/2018 Agri-Laboratories Ltd. Huvepharma AD Animal Health & Nutrition - - -

01/03/2018 Agri-Marketing Corp. Kemin Industries, Inc. Animal Health & Nutrition - - -

01/03/2018 Valley Farms Supply, Inc. Franklin Electric Co., Inc. Machinery & Equipment 9.0 - -

01/03/2018 American International Chemical, Inc. LeBaronBrown Industries LLC Diversified Agribusiness - - -

01/02/2018 Agrium Inc. and Potash Corporation of Saskatchewan

Inc.

Nutrien Crop/ Turf/ Ornamental

Inputs

- - -

01/02/2018 Pro-Pet LLC Cargill, Inc. Animal Health & Nutrition - - -


Agribusiness Report Q1 2018 · 3/20/2018 Ô TreeSap Farms LLC (Village Nurseries) 2/12/2018 Ô...

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