ABREVIATIONS ASC=American Seafoods Company CV= Company Value DPVI=Distributed Value to Paid-In ratio EV= Enterprise Value EBITDA= Earnings Before Interest, Taxes, Depreciation, and Amortization IRR= Internal Return Rate MOIC=Multiple of Invested Capital TVPI= Total Value to Paid-In ratio 2 Price and Deal Performance 2003 In January 2000, Centre Partners (CP) and the management acquired American Seafoods Corporation (ASC) through a sale with a total price of $477.9mn, including $77.5mn in equity and $400.4mn in debt . CP exited their investment in 2006 with total proceeds of $239m . We present a valuation of the company by December of 2003 in order to get a reasonable price for the equity owned by CP and its meaning in terms of deal performance …show more content…
EBITDA 113.3 64% 117 72.9 75.2 Total interest bearing obligations 573.1 91% 595.1 523.1 543.2 Ilustración 4 Summary Financial Information ASC 2002-2003 Regarding benchmarking and the EV/ Adj. EBITDA multiple calculation The financial data of the peer companies High Liner Foods Inc., Pescanova SA and Thai Union Group concerning Adj. EBITDA and EV is provided in the figures 3, 4 and 5 and the calculation of the EV/ Adj. EBITDA multiple. Company High Liner Foods Inc. (in mn USD) 1999 2000 2001 2002 2003 2004 2005 2006 Adj. EBITDA 8.3 18.7 18.5 18.2 16.1 14.4 8.3 11.6 EV 112.3 103.3 104.5 107.9 113.8 113.7 119.6 104.3 EV/Adj. EBITDA Multiple 13.5 5.5 5.6 5.9 7.1 7.9 14.4 9.0 Ilustración 5 Financial data High Liner Foods Inc. Company Pescanova SA (in mn USD) 1999 2000 2001 2002 2003 2004 2005 2006 Adj. EBITDA 0.0 0.0 49.5 57.3 75.2 80.2 96.0 138.4 EV 263.2 292.2 296.8 358.7 480.6 599.7 790.5 1,034.3 EV/Adj. EBITDA Multiple 6.0 6.3 6.4 7.5 8.2 7.5 Ilustración 6 Financial data Pescanova SA Company Thai Union Group (in mn USD) 1999 2000 2001 2002 2003 2004 2005 2006 Adj. EBITDA 58.7 48.9 58.0 72.7 78.5 74.0 87.2
Please be advised that 1.25 beta for Harris Seafoods equity, but we acknowledge that true beta of the project is uncertain because of finding a market portfolio with similar risk is hard to find. In addition, the Return on Equity at 15%, we took the discount rate and applied it to the Free Cash Flows to get a Net Present Value. The Internal Rate of Return of the project was 15%. To compensate Harris Seafoods for the opportunity cost and risk of not investing in lowest required rate of return plus risk premium for individual’s required rate of return, we will use WACC of Harris Seafoods.
After 40 years of dedicated service for the Kroger Co., it is with mixed emotions that I announce the retirement of Patty Johnson, District 1 Drug G/M Coordinator. Patty joined the Kroger Co. in 1976 as a cashier and has held many leadership roles through the years, including Lead Bookkeeper, HR for new store openings, District Accounting trainer, Key Retailing Specialist, FE Coordinator, Quevision rollout Coordinator, WiES Coordinator and Drug/GM Coordinator.
The current franchise fee for Zaxby’s is $35,000 dollars with an on-going royalty rate of 6%. There is a licensed agreement to become part of the franchise business. The headquarters is set up in Athens, Georgia. Zaxby’s franchise owners travel from all over the world to attend the annual conferences. The conferences offer support, ideas, new strategies, and networking that gives owners the opportunity to meet and learn something new to help the business as a whole. The meetings are designed from the ground up to help owners meet their goals in business. Zaxby’s has a team of advisor’s that travel to different franchises to offer help and support the community and business. Zaxby provides marketing, development assistance, menu development,
1. To be completely honest Alan is a white male. Alan will never know the struggle of being black and most certainly not the struggle of being a woman regardless of race. Gretchen seem to focus on the quality of her work, and Alan did not care because he most likely does not value quality in his person life. I am not sure what I am saying, but Alan may have issues with his family because I noticed the way he looked at Bennett discussing his family's problems. Alan is the type of person who prefers to be at work than to be around family or even friends, and his way of doing things seems to overshadow Gretchen's and Bennett's customs and beliefs regarding business and
Gordon Food Services, known as GFS Canada distributes fresh foods, canned and dry foods, fresh and frozen meats, seafood and poultry, special orders, equipment supplies and cleaning chemicals across all provinces of Canada. GFS Canada is one of the largest foodservice distributors in Canada.
Frontier Steakhouse Cattle Company is a family-friendly restaurant that specializes in traditional American chophouse-style dishes. It uses citrus and oak wood grills to cook its meats, which are seasoned with a house-special blend of spices and herbs. Frontier Steakhouse has been serving the area since 1968. Its spacious dining area makes it an ideal location for parties and special events.
The Panera Bread company was started in 1981 as Au Bon Pain Co., Inc. Established by Louis Kane, and Ron Shaich, the organization thrived along the east shore of the United States and universally all through the 1990s and turned into the predominant administrator inside the pastry shop bistro classification. Units were opened in the mall, shopping centres, and airport throughout the 1980s and 1990s. In 1993, Au Bon Pain Co., Inc. bought Saint Louis Bread Company®, a chain of 20 pastry shop bistros situated in the St. Louis range. Near 1993 and 1997 normal unit volumes expanded by 75%. At last, the idea 's name was renamed to Panera Bread in 1997 in every market outside St.
Foods Fantastic Company is a public company which mainly operating regional grocery store in Maryland. This Company relies on application programs, such as bar-code scanner, to entre sales to the system. The FFC majority depends on the computer system to run their business. Based on this situation, the Information General Controls review is necessary for this company as the reason that ITGC is the foundation of every categories of the internal control.
If the market value of a stock is lower than its intrinsic value, this stock is defined as “trades at a discount”. To figure out whether AGI stock is traded at a discount to comparable companies, as its management believed, we can simply apply multiple which comes from the average multiple of its comparable companies. Considering fluctuation of future after-tax earnings caused by the change in capital structure, we prefer to use TEV/EBITDA multiple in this case. Amtelecom Group consists of two lines of business which has to been taken into consideration. We separately calculate the value of both companies and their
Neptune Gourmet Seafood Company is the third largest seafood producer in North America targeted the high-end seafood market. The company preserves their premium image and receives ASPD Gold Seal of Approval on every product they sold by providing the best seafood for their customers. However, Neptune’s recent investment in advanced freezer trawlers, along with the new fishing laws changes make Neptune faces a big challenge: The company catches have grown bigger on average. Even though the demand has reached an all-time high, Neptune’s inventory has continued to increase, and no space is available for the excess inventory in their warehouse. Moreover, Neptune’s contribution margin keeps declining over the past three years
As mention before, Restaurant Brands International is a merger company that contains Burger King, a coffee shop and a restaurant called Tim Hortons. Since it was a merger that occurred in 2014, there isn’t much info for the company; however, since Burger King has been almost as old as McDonalds so much of the info will come from Burger King. Burger King is practically the same as McDonalds created in 1950s yet a few years later after its competitor was born. The main difference of how it was created was that Burger King started off like a stove and that name of the stove was named Insta-Boiler.
Golden Valley Foods, Inc. is a 127-year-old company that prepares packages and sells canned and frozen foods which include fruits, vegetables, pickles and condiments. Golden Valley has more than 30 processing plants in operations and annual sales of approximately $650 million. Much of Golden Valley’s management staff comes from their parent company with the previous president saying “The influence of our old parent company is still with us. As long as new products look like they will increase the company’s sales volume, they are introduced. Traditionally, there has been little, if any attention paid to
The purpose of this paper is to introduce my pet food company, NuPure. The product in question is an all natural pet food that utilizes only the best non-gmo, organic, grain-free, and responsibly produced ingredients. NuPure’s goal is to provide the best nutrition for everyones animal counterparts in hopes that they can enjoy life with their owners so many years to come.
Specialty Food and Beverage company (SF), which founded in 2004 in Denmark, mainly covers foods and beverage, restaurants and hotel area. Recent years, the company had faced several problems which lead SF to an embarrassing situation. This assignment will introduce SF’s current issues, analyze the decision and then discuss the solution way which chose by SF’s high level management team.
The purpose of this report is to give a detailed analysis on a case study of Padi-Cepat. Padi-Cepat is a Malaysian Company dealing with food, beverages and baking products. Norman Effendi, CEO of the company is more concerned about the future of the company as the company is sliding down and he wants to take an effective strategy for improving the performance of the company. Padi- Cepat mainly targeted on middle and lower income groups. Different options for solving the issue of growth problem are put forward by the senior officials. The options are Greenfield Option, Market potential the Australasian region, exporting option and diversification option. The managers have proposed diversification strategy and launching a new business segment in Malaysia focusing on selling hot and cold beverages with cake, pastries etc. The managers predict that this market has significant potential to attract the middle and lower income customers because other international coffee chains in Malaysia only target high-income groups and the restaurants do no not have their own marketing products. They rely more on external suppliers for their selling. Norman has to choose any of these options for enhancing the company’s growth and he knows that if the company did not expand internationally, the local rivals would beat the company. Hence he decided to choose the diversification strategy for enhancing the company’s growth.