In this report we analyse the portfolio of assets that RGO is proposing to acquire from S-Ventures. Operating in the structurally growing healthier food sector, Juvela, the leading gluten-free brand, and Pulsin, a leading manufacturer of protein bars and powders, together with Market Rocket’s digital selling expertise, are well placed to grow sales to c.£20m and EBITDA towards c.£3m in 2026E. We value these assets at an enterprise value of c.£30m, equivalent to 1.5x 2026E EV/Sales and c.11x 2026 EV/EBITDA.
RiverFort Global Opportunities: Equity Development
Apr 16, 2025Disclaimer & Declaration of Interest
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