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Coyote Equity Research Profile picture
Coyote Equity Research
@CoyoteEquity
Investment professional. Specialised in pan-European equities & global hedge funds. *Not investment advice, do your own homework.*
Jun 2, 2021 • 11 tweets • 7 min read
When Mr. Market admires #Oatly ($OTLY.US) and has a lapse in memory of past sector deals, a healthy refresher is needed.
Plant-based cream on #Danone’s ($BN.FP) morning coffee, a lengthy thread (x/11): In the summer of 2016 #Danone acquired #WhiteWave for $12.5b or c. 14x EV/EBITDA 2016F aft syn. Danone became the leader in plant-based food with an estimated market share of >40%. The acquisition added many plant-based brands, but more importantly the #Alpro and #Silk products.