Tully and Holland

Mergers

Tully & Holland works on behalf of the seller to evaluate, recommend, structure and close the transaction. more info >>

Acquisitions

On behalf of the buyer, Tully & Holland conducts searches, negotiates and structures the transaction and follows through to closing. more info >>

Private Placements

Tully & Holland is licensed to assist clients in raising equity and debt for expansion, acquisitions or recapitalizations.
more info >>

Valuations

Tully & Holland provides valuation services to current and prospective clients. more info >>



T&H Newsletter Join Now >>

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Tully & Holland is Attending
 
 
Winter Fancy Food Show
January 11-13, 2015
San Francisco, CA 
 
 
National Confectioners Association
2015 State of the Industry Conference
February 16-19, 2015
Miami, FL 

T & H Market Trends Index

LTM as of 11/17/2014

$M EBITDA REVENUE
< 25     5.86x   1.05x
25 - 100     7.33x   1.45x
100 - 250     6.64x   1.38x
250 - 500     7.6x   2.28x
> 500     10.62x   3.62x


Source: Capital IQ

Data includes multiples between 3x and 25x excluding real estate and telecommunications transactions.


Transactions

A selection of recently completed transactions by Tully & Holland, Inc. See listings >>


 
Tully & Holland
20 William Street, Suite 135
Wellesley, MA 02481

781.239.2900
info@tullyandholland.com

Member SIPC Member FINRA

Chain Store Sales Quarterly Update


Comparable Sales Tracking - Quarter 2 - 2014 
September 2014 - Tully & Holland reported a 1.4% median increase in comparable store sales.  Fifty-two of the chains monitored (50.5%) reported positive growth in same store sales in Q2 of 2014 versus Q2 of 2013. >>>

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M&A Snapshots by Sector - Second Quarter 2014

 

Beverage Industry

July 2014 - Over the past 36 months, Tully & Holland has tracked 199 M&A transactions within the Beverage Industry.  YTD 2014 M&A activity has improved slightly since 2013 to a total of 36 transactions.  81% of the disclosed transaction values were below $25 million.  > > >

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Food Industry

July 2014 - Over the past 36 months, Tully & Holland has tracked 533 M&A transactions within the US Food Industry.  YTD 2014's transaction volume has increased by 12% from the same time period in 2013.  > > >

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E-Commerce and Catalog Industry

July 2014 - Over the past 36 months, Tully & Holland has tracked 180 transactions within the e-commerce and catalog industry.  YTD 2014 M&A activity has increased by 39% and 15% from the same time period in 2013 and 2012, respectively. > > >

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Sweets, Snack & Confectionary Industry

May 2014 - Over the past 36 months, Tully & Holland has tracked 72 M&A transactions within the Sweets, Snack & Confectionary Industry.  Transaction activity was stable during 2012 and 2013, with 27 M&A transactions announced during each year.   > > >

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Industry Updates

 

Flavors & Fragrances Update

August 2014 - Flavors and Fragrances is a $25 billion industry globally, growing at a compounded annual growth rate of 4.5% since 2006.  Increased consumption in emerging markets, recovery in developed economies, and innovation are likely to fuel growth going forward.  >>>

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Craft Beer Update

July 2014 - In 2013 retail Craft Beer Sales grew an estimated 20%, from $11.9 billion to $14.3 billion, representing the industry's 8th consecutive year of double-digit sales growth.

Fiercely independent, craft brewers are less inclined to sell resulting in scarcity of sellers. This void combined with double-digit category growth has yielded premium valuations for those who are willing. >>>

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Restaurant Industry Update

June 2014 - Substantial investment is taking place in three categories of the fast-casual restaurant segment; healthy dining chains, premium burger chains, and aritsan pizza concepts.  For the fifth consecutive year, the fast-casual segment's growth in traffic outpaced that of every other restaurant segment. >>>

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US Internet Retail Industry Update

May 2014 - The internet retail industry has been a particularly hot topic of discussion over the past several weeks, with investors speculating whether Alibaba's recent IPO filing will be the largest in US history.  >>>

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"Our deep industry knowledge in combination with 20 years of successfully completed transactions enables us to provide clients with sophisticated financial advice."

 

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NOTABLE QUOTES
 
Tim Tully, Tully & Holland's President and Head of Food & Consumer Group 
 
Law360

January 14, 2014 - Japan's Suntory Holdings Ltd. announced its offer to purchase Beam Inc. and its cachet of portfolio brands.    In the article, After $16B Beam Buyout, Smaller Booze Deals on Horizon, Tim Tully comments on the sizable deal.

 
 
Stuart Rose, Tully & Holland's Multichannel Merchant Group Managing Director
 
Internet Retailer

January 14, 2014 - Google this week said it would spend $3.2 billion to buy Nest, which runs the Nest.com online site and the store.nest.com e-commerce site. In the article, Google Cozies Up To Consumers In Their Homes, Stuart comments on the acquisition.