LONDON – McBride Plc, Europe’s largest maker of private-label household cleaning products, has made a binding €40 million ($34.5 million) offer for Eurotab Group, a French specialist in solid-format cleaning and hygiene products, the company said.
The proposed acquisition of privately-owned Eurotab would strengthen McBride’s unit dosing division, adding manufacturing capacity and new product categories including dishwasher tablets, moisture absorbers and disinfectant bleach tablets, the group said.
Eurotab is expected to report consolidated revenue of €65 million for the year to June 30, 2026, with the bulk of its business coming from two French manufacturing sites. It also operates a smaller facility near Istanbul serving the Turkish market.
The enterprise value of the deal is based on Eurotab’s 12-month EBITDA at completion, currently estimated at €38.2 million plus €1.8 million for acquired tax losses, McBride said.
The implied underlying EBITDA multiple is 5.2 times, or 4.6 times net of tax loss value, falling to 3.1 times after adjusting for conservative synergies.
McBride said the acquisition would be accretive to earnings per share in the first full year of ownership and add about 0.5 percentage points to group EBITDA margins, moving it closer to a 10% target set at its 2024 Capital Markets Day.
The consideration will be funded from existing banking facilities, with net debt-to-EBITDA expected to rise slightly above the 1.5 times target for about a year after completion.
“The proposed acquisition represents an attractive strategic opportunity and is aligned with our growth strategy,” Chief Executive Chris Smith said, adding that the deal would have no impact on the company’s share buyback programme.
The offer is subject to information and consultation procedures with Eurotab’s French employee representative bodies under local law. Completion is expected between June 2026 and the end of the first quarter of McBride’s 2027 financial year.
Separately, McBride said the Middle East conflict has so far had a limited impact on its trading, mainly through higher haulage costs from increased fuel prices.
However, chemical and packaging suppliers have begun implementing price increases to recover higher petrochemical and energy costs, with early signs of potential supply chain disruptions emerging.
The group has notified customers of temporary price adjustments or surcharges to recover these higher input costs.