Business
Lynch IPO up and running, brokers value at up to $729m – The Australian Financial Review
Flowers grower and wholesaler Lynch Group is the first chunky float contender out of the gates and ready to test Australia’s initial public offering market.
Jarden said its valuation could be compared to agricultural sector peers (11.5-times) and citrus and berries company Costa Group at 10.6-times.
We see Lynchs balance sheet as sound, and earnins as having defensive qualities, Jardens Ben Gilbert, Keegan Boysen and Kseniya Chadayeva told clients.
Lynch Group is majority owned by Australian private equity firm Next Capital. The company was founded by the family of Leo Lynch in 1915, and has been backed by Next Capital since 2015.
JPMorgan, Jarden and…
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