Similar offering in the dairy and health/wellness space. Trading at a ~22% premium (EV) to KTD at present. Will be watching with interest. Don’t know their split between CM and Proprietary. Not clear whether they CM themselves or contact this out to the CM they have a 5% stake in.
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- Fair Value for KTD based on BEGA BGA
Fair Value for KTD based on BEGA BGA, page-95
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