Piper Jaffray Consumer M&A Weekly March 8, 2004 Consumer Mergers & Acquisitions David Jacquin - Managing Director, Group Head, 415-277-1505,
[email protected] Scott LaRue - Managing Director, 650-838-1407,
[email protected] Tom Halverson - Principal, 612-303-6371,
[email protected] John Twichell - Vice President 415-277-1533,
[email protected] John Barrymore - Vice President, 415-277-1501,
[email protected] Robert Arnold - Associate, 415-277-1548,
[email protected] Selected Consumer M&A Transactions (Approximate valuations, $ in millions) Date Equity Enterprise LTM EV / LTM Announced Effective Target Acquiror Value Value EBITDA EBITDA Universe Comments 03/05/04 Pending Jays Foods Willis Stein & Partners NA $26.0 NA NA Food & Beverage Willis Stein has made a stalking horse bid for bankrupt Jay Foods 03/04/04 Pending Sealy Corp (1) KKR & Co. NA 1,500.0 $100.0 9.3x Consumer Products KKR to acquire bedding manufacturer Sealy Corporation 03/03/04 Pending 124 Kids R Us stores Office Depot NA 197.0 NA NA Retail Office Depot to acquire 124 Kids R Us stores 03/02/04 Pending Kama Foods Bunge Ltd. NA 21.3 NA NA Food & Beverage Bunge has agreed to acquire edible oil producer Kama Foods 03/02/04 Pending Quest Food Ingredients Kerry Group NA 440.0 NA NA Food & Beverage Kerry has agreed to buy Quest Food Ingredients from ICI Group 03/02/04 Pending Nu-Gro Thomas H. Lee NA 144.0 NA NA Consumer Products United Industries, owned by Thomas H.